4,085 Shares in The Hartford Insurance Group, Inc. (NYSE:HIG) Bought by Entropy Technologies LP

Key Points

• Entropy Technologies LP has acquired 4,085 shares of The Hartford Insurance Group, valued at approximately $505,000, indicating significant interest from institutional investors.
• The Hartford reported a quarterly earnings per share of $3.41, surpassing the consensus estimate by $0.58, and its revenue increased by 7.7% year-over-year.
• A quarterly dividend of $0.52 per share is set to be paid on October 2nd, reflecting a 1.6% dividend yield and a payout ratio of 18.86%.

Entropy Technologies LP bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,085 shares of the insurance provider's stock, valued at approximately $505,000.

Other hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC increased its stake in shares of The Hartford Insurance Group by 146.2% in the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after buying an additional 155 shares during the period. Center for Financial Planning Inc. bought a new position in shares of The Hartford Insurance Group during the first quarter valued at approximately $33,000. Meeder Asset Management Inc. raised its holdings in shares of The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 161 shares in the last quarter. Spurstone Advisory Services LLC bought a new position in shares of The Hartford Insurance Group during the fourth quarter valued at approximately $33,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of The Hartford Insurance Group during the first quarter valued at approximately $37,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $130.98 on Thursday. The Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $132.09. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The business has a fifty day moving average price of $124.84 and a 200-day moving average price of $121.52. The company has a market capitalization of $36.83 billion, a PE ratio of 11.87, a PEG ratio of 1.26 and a beta of 0.67.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%. The firm had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the company earned $2.50 earnings per share. The company's revenue was up 7.7% on a year-over-year basis. As a group, equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The Hartford Insurance Group's dividend payout ratio (DPR) is 18.86%.

Insider Activity at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the sale, the chief financial officer directly owned 77,574 shares of the company's stock, valued at $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HIG. Barclays decreased their target price on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Morgan Stanley upped their target price on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Cantor Fitzgerald began coverage on The Hartford Insurance Group in a report on Wednesday. They set an "overweight" rating and a $152.00 target price for the company. Citigroup began coverage on The Hartford Insurance Group in a report on Wednesday. They set a "neutral" rating and a $138.00 target price for the company. Finally, Keefe, Bruyette & Woods upped their target price on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $137.64.

About The Hartford Insurance Group

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.

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