Cyndeo Wealth Partners LLC Makes New $3.21 Million Investment in The Hartford Insurance Group, Inc. $HIG

Key Points

• Cyndeo Wealth Partners LLC acquired a new position in The Hartford Insurance Group, purchasing 25,296 shares valued at approximately $3.2 million during the 2nd quarter.
• The Hartford Insurance Group reported earnings of $3.41 per share in the last quarter, surpassing analysts' expectations and indicating a 7.7% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.52 per share, reflecting an annualized yield of 1.6% and a current dividend payout ratio of 18.86%.

Cyndeo Wealth Partners LLC acquired a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 25,296 shares of the insurance provider's stock, valued at approximately $3,209,000.

A number of other institutional investors have also recently made changes to their positions in HIG. Daymark Wealth Partners LLC purchased a new position in shares of The Hartford Insurance Group during the 1st quarter valued at $202,000. Farther Finance Advisors LLC lifted its position in shares of The Hartford Insurance Group by 59.6% during the 1st quarter. Farther Finance Advisors LLC now owns 5,026 shares of the insurance provider's stock valued at $625,000 after buying an additional 1,877 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of The Hartford Insurance Group by 14.4% during the 1st quarter. GAMMA Investing LLC now owns 11,509 shares of the insurance provider's stock valued at $1,424,000 after buying an additional 1,445 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of The Hartford Insurance Group by 3.0% during the 1st quarter. Handelsbanken Fonder AB now owns 48,709 shares of the insurance provider's stock valued at $6,027,000 after buying an additional 1,407 shares during the last quarter. Finally, Simon Quick Advisors LLC purchased a new position in shares of The Hartford Insurance Group during the 1st quarter valued at $243,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $130.08 on Friday. The firm has a market capitalization of $36.57 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.28 and a beta of 0.69. 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 stock's 50-day simple moving average is $131.34 and its two-hundred day simple moving average is $126.27. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17.

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 for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 EPS. As a group, equities analysts anticipate 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 announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is currently 18.86%.

Analysts Set New Price Targets

A number of brokerages have recently commented on HIG. Citigroup began coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price target on the stock. Evercore ISI boosted their price objective on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an "in-line" rating in a research note on Wednesday, October 1st. Weiss Ratings reiterated a "buy (a-)" rating on shares of The Hartford Insurance Group in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price objective on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Finally, Piper Sandler boosted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an "overweight" rating in a research note 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 issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $140.07.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction dated Monday, August 4th. The stock was 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 $9,580,389. This represents a 31.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

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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