Donoghue Forlines LLC Makes New $2.76 Million Investment in The Hartford Insurance Group, Inc. $HIG

Donoghue Forlines LLC acquired a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,729 shares of the insurance provider’s stock, valued at approximately $2,757,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. CWM LLC raised its position in shares of The Hartford Insurance Group by 1.9% during the 1st quarter. CWM LLC now owns 15,129 shares of the insurance provider’s stock worth $1,872,000 after purchasing an additional 284 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in The Hartford Insurance Group during the 1st quarter worth approximately $528,000. Signaturefd LLC raised its holdings in shares of The Hartford Insurance Group by 2.2% during the first quarter. Signaturefd LLC now owns 6,151 shares of the insurance provider’s stock valued at $761,000 after acquiring an additional 131 shares during the last quarter. Apollon Wealth Management LLC lifted its position in shares of The Hartford Insurance Group by 4.3% in the first quarter. Apollon Wealth Management LLC now owns 4,043 shares of the insurance provider’s stock valued at $500,000 after acquiring an additional 167 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of The Hartford Insurance Group by 8.9% in the first quarter. Whittier Trust Co. now owns 3,785 shares of the insurance provider’s stock worth $468,000 after acquiring an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity

In other news, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the sale, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,252,344. This trade represents a 29.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.50% of the stock is currently owned by insiders.

The Hartford Insurance Group Stock Up 0.7%

Shares of NYSE HIG opened at $133.61 on Friday. The company has a market capitalization of $37.23 billion, a P/E ratio of 10.92, a P/E/G ratio of 1.19 and a beta of 0.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.31. The company has a 50 day simple moving average of $129.42 and a 200-day simple moving average of $127.87. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the prior year, the firm posted $2.53 earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio is 19.61%.

Analysts Set New Price Targets

A number of research analysts have weighed in on HIG shares. UBS Group raised their price objective on The Hartford Insurance Group from $150.00 to $152.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Cantor Fitzgerald initiated coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price target on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Finally, Weiss Ratings upgraded The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.14.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.