Callan Family Office LLC Increases Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• Callan Family Office LLC increased its holdings in The Hartford Insurance Group by 142.7% during the second quarter, bringing its total shares to 8,979 with a value of approximately $1.14 million.
• Several institutional investors have also raised their stakes in The Hartford, with hedge funds collectively owning 93.42% of the stock.
• The Hartford Insurance Group reported earnings of $3.41 per share in its latest quarter, surpassing analyst expectations, and announced a quarterly dividend of $0.52 per share.

Callan Family Office LLC grew its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 142.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,979 shares of the insurance provider's stock after acquiring an additional 5,279 shares during the period. Callan Family Office LLC's holdings in The Hartford Insurance Group were worth $1,139,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Park Square Financial Group LLC lifted its position 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 valued at $32,000 after acquiring an additional 155 shares in the last quarter. Center for Financial Planning Inc. purchased a new position in shares of The Hartford Insurance Group in the first quarter valued at about $33,000. Meeder Asset Management Inc. lifted its position in shares of The Hartford Insurance Group by 123.8% in 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. Smallwood Wealth Investment Management LLC purchased a new position in shares of The Hartford Insurance Group in the first quarter valued at about $37,000. Finally, Signature Resources Capital Management LLC purchased a new position in shares of The Hartford Insurance Group in the second quarter valued at about $38,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HIG. Wolfe Research began coverage on The Hartford Insurance Group in a research report on Tuesday, September 16th. They issued a "peer perform" rating on the stock. Cantor Fitzgerald began coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a "neutral" rating in a research report on Thursday. Citigroup began coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 target price on the stock. Finally, Piper Sandler boosted their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.07.

Insider Buying and Selling

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. This represents a 31.30% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

The Hartford Insurance Group Trading Down 1.0%

Shares of HIG stock opened at $128.89 on Monday. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $135.17. 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 stock's 50 day simple moving average is $131.46 and its two-hundred day simple moving average is $126.37. The company has a market cap of $36.24 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.24 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the prior year, the business posted $2.50 earnings per share. The company's quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The Hartford Insurance Group's dividend payout ratio is 18.86%.

The Hartford Insurance Group Company 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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