Advisors Capital Management LLC Acquires New Holdings in The Hartford Insurance Group, Inc. $HIG

Advisors Capital Management LLC bought a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,758 shares of the insurance provider's stock, valued at approximately $1,293,000.

Several other institutional investors also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC bought a new position in shares of The Hartford Insurance Group in the 1st quarter valued at $207,000. NewEdge Advisors LLC boosted its holdings in shares of The Hartford Insurance Group by 1.6% during 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 in the last quarter. Treasurer of the State of North Carolina grew its position 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 worth $21,297,000 after acquiring an additional 6,285 shares during the last quarter. HUB Investment Partners LLC increased its stake in shares of The Hartford Insurance Group by 9.8% in the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider's stock valued at $878,000 after buying an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in The Hartford Insurance Group by 25.5% in the 2nd 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 buying an additional 39,220 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HIG has been the topic of several recent research reports. UBS Group cut 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 research report on Monday, April 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. Wells Fargo & Company dropped their price target on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, July 27th. Barclays cut their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a report on Friday, June 12th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 28th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, 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 other news, President Adin M. Tooker sold 8,895 shares of the firm's stock in a transaction dated 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 completion of the sale, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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

Shares of HIG stock opened at $136.30 on Friday. The firm has a 50 day moving average of $137.56 and a 200-day moving average of $136.64. The company has a market cap of $36.92 billion, a price-to-earnings ratio of 8.81, a price-to-earnings-growth ratio of 3.37 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 52 week low of $120.33 and a 52 week high of $146.07.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping analysts' consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The business had revenue of $7.26 billion during the quarter, compared to analysts' expectations of $7.17 billion. During the same period last year, the company posted $3.41 earnings per share. The business's quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 earnings per share 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. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group's dividend payout ratio is 15.51%.

The Hartford Insurance Group 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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