13,167 Shares in The Hartford Insurance Group, Inc. $HIG Bought by NewEdge Wealth LLC

NewEdge Wealth LLC acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 13,167 shares of the insurance provider’s stock, valued at approximately $1,745,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in The Hartford Insurance Group in the first quarter valued at approximately $4,131,000. Abacus Wealth Partners LLC bought a new stake in shares of The Hartford Insurance Group in the fourth quarter valued at $1,971,000. SEB Asset Management AB bought a new stake in shares of The Hartford Insurance Group in the first quarter valued at $69,310,000. Arbejdsmarkedets Tillaegspension lifted its position in shares of The Hartford Insurance Group by 4.6% during the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock valued at $25,303,000 after buying an additional 8,250 shares during the last quarter. Finally, Strs Ohio lifted its position in shares of The Hartford Insurance Group by 4.7% during the 1st quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock valued at $26,994,000 after buying an additional 8,890 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group decreased their price objective on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a report on Monday, April 27th. Royal Bank Of Canada increased their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. boosted their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Zacks Research cut shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Finally, Barclays cut their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $149.67.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Trading Down 0.6%

Shares of The Hartford Insurance Group stock opened at $136.30 on Friday. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $146.07. The company has a 50 day simple moving average of $137.56 and a two-hundred day simple moving average of $136.64. The firm has a market cap of $36.92 billion, a PE ratio of 8.81, a PEG ratio of 3.37 and a beta of 0.46. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.41 earnings per share. Analysts expect that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 15.51%.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.