Ibex Wealth Advisors Makes New $723,000 Investment in The Hartford Insurance Group, Inc. $HIG

Ibex Wealth Advisors acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,349 shares of the insurance provider’s stock, valued at approximately $723,000.

A number of other hedge funds have also modified their holdings of the business. Ashton Thomas Private Wealth LLC purchased a new stake in shares of The Hartford Insurance Group in the first quarter valued at about $207,000. NewEdge Advisors LLC increased its position in The Hartford Insurance Group by 1.6% in the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after acquiring an additional 886 shares during the period. Treasurer of the State of North Carolina raised its stake in The Hartford Insurance Group by 3.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock valued at $21,297,000 after acquiring an additional 6,285 shares during the last quarter. HUB Investment Partners LLC lifted its position in The Hartford Insurance Group by 9.8% during the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock worth $878,000 after acquiring an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of The Hartford Insurance Group by 25.5% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock valued at $24,488,000 after purchasing an additional 39,220 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Trading Down 0.3%

Shares of The Hartford Insurance Group stock opened at $138.32 on Friday. The company has a 50-day moving average of $132.57 and a two-hundred day moving average of $135.42. The stock has a market cap of $37.92 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 2.54 and a beta of 0.47. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 12-month low of $119.61 and a 12-month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the previous year, the firm posted $2.20 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.9 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 1st were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, June 1st. The Hartford Insurance Group’s payout ratio is currently 16.87%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. UBS Group lowered 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. Cantor Fitzgerald boosted their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday. Mizuho lifted their price objective on The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Piper Sandler dropped their target price on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a research report on Thursday, June 11th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.50.

Key The Hartford Insurance Group News

Here are the key news stories impacting The Hartford Insurance Group this week:

• Positive Sentiment: Wells Fargo raised its price target on HIG to $165 from $154 and reiterated an overweight rating, signaling about 19% upside from current levels. Benzinga report on Wells Fargo price target increase
• Positive Sentiment: Mizuho also boosted its target to $163 from $154 and kept an outperform rating, adding to the positive analyst sentiment around the stock. Benzinga report on Mizuho price target increase
• Positive Sentiment: Cantor Fitzgerald increased its target to $158 from $156 and maintained an overweight rating, reinforcing expectations for further upside. Benzinga report on Cantor Fitzgerald price target increase
• Neutral Sentiment: Keefe, Bruyette & Woods issued a positive forecast for HIG, but its latest target of $143 and market-perform rating were less bullish than the other recent calls. KBW report
• Neutral Sentiment: Zacks highlighted surging implied volatility in HIG options, suggesting traders are positioning for a larger move, though this does not clearly point to direction by itself. Zacks article on implied volatility

Insiders Place Their Bets

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

The Hartford Insurance Group Company 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.