88,464 Shares in The Hartford Insurance Group, Inc. $HIG Purchased by Lbp Am Sa

Key Points

• Lbp Am Sa purchased 88,464 shares of The Hartford Insurance Group, valued at approximately $11.22 million, in the second quarter.
• Wall Street analysts have mixed ratings for HIG, with a consensus rating of "Hold" and average target prices ranging from $138.00 to $142.00.
• Taxable quarterly dividend of $0.52 has been announced, reflecting an annualized yield of 1.6%, set to be paid on October 2nd to investors of record on September 2nd.

Lbp Am Sa bought a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 88,464 shares of the insurance provider's stock, valued at approximately $11,223,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC increased its position in The Hartford Insurance Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after acquiring an additional 155 shares in the last quarter. Center for Financial Planning Inc. acquired a new position in The Hartford Insurance Group during the first quarter valued at approximately $33,000. Meeder Asset Management Inc. grew its holdings in 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 purchasing an additional 161 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in The Hartford Insurance Group during the first quarter valued at approximately $37,000. Finally, Signature Resources Capital Management LLC acquired a new position in The Hartford Insurance Group during the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 93.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HIG. Citigroup began coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Raymond James Financial restated an "outperform" rating and set a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Wells Fargo & Company upped their price objective on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Morgan Stanley upped their price objective on shares of 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. Seven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $138.00.

The Hartford Insurance Group Trading Up 0.8%

HIG opened at $133.36 on Wednesday. The stock has a market capitalization of $37.50 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.28 and a beta of 0.72. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17. The company has a 50-day simple moving average of $130.05 and a 200 day simple moving average of $125.69.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The firm had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.50 earnings per share. Analysts predict 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 issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is 18.86%.

Insider Buying and Selling

In related news, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were 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 represents a 31.30% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

The Hartford Insurance Group Profile

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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