CFO4Life Group LLC Invests $784,000 in The Hartford Insurance Group, Inc. $HIG

CFO4Life Group LLC acquired a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,914 shares of the insurance provider’s stock, valued at approximately $784,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Pacific Financial acquired a new stake in The Hartford Insurance Group in the first quarter worth approximately $26,000. MidFirst Bank acquired a new position in shares of The Hartford Insurance Group during the 2nd quarter valued at $26,000. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group in the 3rd quarter worth $26,000. Navigoe LLC bought a new stake in shares of The Hartford Insurance Group in the 2nd quarter worth $27,000. Finally, Phillip James Consulting Co. acquired a new stake in shares of The Hartford Insurance Group in the first quarter valued at $29,000. Institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HIG. Wells Fargo & Company decreased their target price on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, July 27th. Cantor Fitzgerald upped their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Piper Sandler restated a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods lifted their price objective on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 28th. Finally, UBS Group dropped their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Seven investment 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $149.67.

Insider Transactions at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction on 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 completion of the sale, the president owned 38,208 shares in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $136.30 on Friday. The company has a 50-day moving average of $137.56 and a two-hundred day moving average of $136.64. The stock has a market cap of $36.92 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 3.34 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, Inc. has a one year low of $120.33 and a one year high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (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 analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.41 earnings per share. On average, equities research analysts expect that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

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

About The Hartford Insurance Group

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.