Avior Wealth Management LLC Buys 2,326 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Avior Wealth Management LLC significantly increased its stake in The Hartford Insurance Group by acquiring an additional 2,326 shares, resulting in a total of 2,531 shares valued at approximately $321,000.
• Institutional investors now hold 93.42% of The Hartford Insurance Group's stock, demonstrating strong institutional interest in the company.
• The Hartford announced a quarterly dividend of $0.52 per share, with an annualized yield of 1.6%, highlighting its commitment to returning value to shareholders.

Avior Wealth Management LLC boosted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 1,134.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,531 shares of the insurance provider's stock after acquiring an additional 2,326 shares during the period. Avior Wealth Management LLC's holdings in The Hartford Insurance Group were worth $321,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Uncommon Cents Investing LLC raised its position in The Hartford Insurance Group by 8.3% in the second quarter. Uncommon Cents Investing LLC now owns 36,220 shares of the insurance provider's stock worth $4,595,000 after acquiring an additional 2,790 shares during the period. BayBridge Capital Group LLC increased its stake in shares of The Hartford Insurance Group by 2.4% in the second quarter. BayBridge Capital Group LLC now owns 3,776 shares of the insurance provider's stock worth $479,000 after purchasing an additional 89 shares in the last quarter. LVW Advisors LLC increased its stake in shares of The Hartford Insurance Group by 11.0% in the second quarter. LVW Advisors LLC now owns 5,415 shares of the insurance provider's stock worth $687,000 after purchasing an additional 537 shares in the last quarter. Signature Resources Capital Management LLC purchased a new position in shares of The Hartford Insurance Group in the second quarter worth about $38,000. Finally, Patton Fund Management Inc. purchased a new position in shares of The Hartford Insurance Group in the second quarter worth about $283,000. Institutional investors own 93.42% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HIG shares. Wolfe Research started coverage on shares of The Hartford Insurance Group in a research note on Tuesday, September 16th. They issued a "peer perform" rating for the company. Morgan Stanley lifted their target price on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Citigroup initiated 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 target price for the company. UBS Group raised their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Finally, Raymond James Financial restated an "outperform" rating and issued a $140.00 price objective (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. 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, the stock presently has an average rating of "Hold" and a consensus target price of $138.00.

The Hartford Insurance Group Trading Up 0.8%

Shares of The Hartford Insurance Group stock opened at $133.36 on Wednesday. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $135.17. The firm has a market cap of $37.50 billion, a PE ratio of 12.09, a PEG ratio of 1.28 and a beta of 0.72. 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 company has a 50 day simple moving average of $130.05 and a two-hundred day simple moving average of $125.69.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The business had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period in the previous year, the business posted $2.50 earnings per share. The Hartford Insurance Group's revenue for the quarter was up 7.7% on a year-over-year basis. Analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share 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. Stockholders 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 dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is presently 18.86%.

Insider Buying and Selling

In other news, EVP Donald Christian Hunt sold 2,124 shares of the business'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 can be accessed through this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 77,574 shares of the company's stock, valued at approximately $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

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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