17,444 Shares in The Hartford Insurance Group, Inc. $HIG Bought by GSA Capital Partners LLP

Key Points

• GSA Capital Partners acquired 17,444 shares of The Hartford Insurance Group during the second quarter, valued at approximately $2.3 million. Institutional investors collectively own 93.42% of HIG’s outstanding stock.
• Analyst sentiment remains mixed, with seven Buy, ten Hold, and one Sell rating; the consensus rating is Hold with a price target of $149.67.
• The Hartford exceeded quarterly earnings expectations, reporting $3.42 in EPS and $7.26 billion in revenue, while declaring a quarterly dividend of $0.60 per share, or a 1.7% annualized yield.

GSA Capital Partners LLP acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,444 shares of the insurance provider's stock, valued at approximately $2,312,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. First Pacific Financial bought a new position in shares of The Hartford Insurance Group in the first quarter worth about $26,000. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at approximately $26,000. Phillip James Consulting Co. bought a new stake in shares of The Hartford Insurance Group during the 1st quarter valued at approximately $29,000. Clearstead Trust LLC acquired a new position in The Hartford Insurance Group during the 2nd quarter worth approximately $29,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of The Hartford Insurance Group during the third quarter worth $29,000. Institutional investors own 93.42% of the company's stock.

Analysts Set New Price Targets

HIG has been the subject of a number of research reports. Zacks Research cut The Hartford Insurance Group from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. Cantor Fitzgerald upped their target price on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. UBS Group dropped their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, April 27th. JPMorgan Chase & Co. lifted their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Finally, Piper Sandler restated a "neutral" rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Seven equities 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 stock. Based on data from MarketBeat, The Hartford Insurance Group presently has an average rating of "Hold" and a consensus price target of $149.67.

Insider Activity at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the company's stock in a transaction that occurred 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 sale, the president directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $138.02 on Friday. The company has a market capitalization of $37.39 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 3.39 and a beta of 0.46. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07. The stock has a fifty day simple moving average of $136.70 and a 200 day simple moving average of $136.44.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the business earned $3.41 EPS. The business's quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group's payout ratio is currently 15.51%.

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.

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