63,084 Shares in The Hartford Insurance Group, Inc. $HIG Acquired by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors acquired 63,084 shares of The Hartford Insurance Group in the second quarter, valued at approximately $8.36 million. Institutional investors collectively own 93.42% of HIG’s outstanding stock.
• The Hartford exceeded quarterly expectations, reporting $3.42 in EPS versus the $3.16 consensus and $7.26 billion in revenue, up 8.1% year over year.
• The company declared a quarterly dividend of $0.60 per share, equivalent to a $2.40 annualized payout and a 1.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $149.67.

Great Lakes Advisors LLC purchased a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 63,084 shares of the insurance provider's stock, valued at approximately $8,360,000.

Other institutional investors have also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. acquired a new position in The Hartford Insurance Group in the second quarter worth $606,000. Danske Bank A S acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at $742,000. Wealthfront Advisers LLC acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at $7,812,000. Foster & Motley Inc. bought a new position in shares of The Hartford Insurance Group in the second quarter valued at about $13,953,000. Finally, Navigoe LLC acquired a new position in The Hartford Insurance Group during the 2nd quarter worth about $27,000. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Performance

Shares of NYSE:HIG opened at $137.83 on Thursday. The stock has a market capitalization of $37.33 billion, a P/E ratio of 8.91, a P/E/G ratio of 3.41 and a beta of 0.46. 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 current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $137.25 and a two-hundred day moving average price of $136.62.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its 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 company had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company's revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.41 EPS. Equities analysts predict that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HIG shares. Mizuho increased their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. Royal Bank Of Canada increased their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "sector perform" rating in a research note on Monday, July 27th. Weiss Ratings lowered shares of The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a report on Wednesday, May 27th. Zacks Research cut shares of The Hartford Insurance Group from a "hold" rating to a "strong sell" rating in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. upped their price objective on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $149.67.

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 that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

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.

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