Capital Investment Advisors LLC Purchases Shares of 1,937 The Hartford Insurance Group, Inc. $HIG

Key Points

• Capital Investment Advisors LLC acquired a new stake in The Hartford Insurance Group, purchasing 1,937 shares valued at approximately $246,000 in the second quarter.
• CFO Beth Ann Costello sold 35,340 shares of the company's stock at an average price of $123.50, reducing her ownership by 31.30%.
• Analysts have varied opinions on the company's stock, with a current average rating of "Moderate Buy" and an average price target of $137.93.

Capital Investment Advisors LLC purchased a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,937 shares of the insurance provider's stock, valued at approximately $246,000.

Several other institutional investors have also added to or reduced their stakes in the business. HB Wealth Management LLC boosted its position in The Hartford Insurance Group by 2.7% during the second quarter. HB Wealth Management LLC now owns 7,795 shares of the insurance provider's stock valued at $989,000 after buying an additional 207 shares during the period. Janney Montgomery Scott LLC boosted its position in The Hartford Insurance Group by 7.8% during the second quarter. Janney Montgomery Scott LLC now owns 145,733 shares of the insurance provider's stock valued at $18,489,000 after buying an additional 10,527 shares during the period. Investment Advisory Services Inc. TX ADV purchased a new stake in The Hartford Insurance Group during the second quarter valued at about $220,000. Avior Wealth Management LLC boosted its holdings in shares of The Hartford Insurance Group by 1,134.6% during the second quarter. Avior Wealth Management LLC now owns 2,531 shares of the insurance provider's stock worth $321,000 after purchasing an additional 2,326 shares during the period. Finally, Uncommon Cents Investing LLC boosted its holdings in shares of The Hartford Insurance Group by 8.3% during the second quarter. Uncommon Cents Investing LLC now owns 36,220 shares of the insurance provider's stock worth $4,595,000 after purchasing an additional 2,790 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the firm'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 transaction of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares of the company's stock, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on HIG. Morgan Stanley increased 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 report on Wednesday, July 30th. Citigroup began coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 target price for the company. Evercore ISI increased their target price on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an "in-line" rating in a report on Wednesday. Wolfe Research began coverage on shares of The Hartford Insurance Group in a report on Tuesday, September 16th. They set a "peer perform" rating for the company. Finally, JPMorgan Chase & Co. increased 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $137.93.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $133.51 on Friday. 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 Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17. The company has a 50-day simple moving average of $130.65 and a two-hundred day simple moving average of $125.93. The firm has a market capitalization of $37.54 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.28 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 EPS for the quarter, topping 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 last year, the business posted $2.50 earnings per share. The Hartford Insurance Group's quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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

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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