Delphi Management Inc. MA Buys Shares of 10,272 The Hartford Insurance Group, Inc. $HIG

Key Points

• Delphi Management Inc. acquired 10,272 shares of The Hartford Insurance Group, valued at approximately $1.3 million, marking a significant investment during the second quarter.
• The Hartford's stock recently experienced an increase in institutional ownership, with 93.42% of the company's shares held by institutional investors and hedge funds.
• The company announced a quarterly dividend of $0.52 per share, with an annualized yield of 1.6%, set to be paid on October 2nd.

Delphi Management Inc. MA bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,272 shares of the insurance provider's stock, valued at approximately $1,303,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Insight Wealth Strategies LLC increased its position in The Hartford Insurance Group by 14.8% during the 2nd quarter. Insight Wealth Strategies LLC now owns 16,800 shares of the insurance provider's stock valued at $2,127,000 after purchasing an additional 2,166 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in The Hartford Insurance Group by 1,971.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,993 shares of the insurance provider's stock valued at $633,000 after purchasing an additional 4,752 shares during the period. First Financial Bank Trust Division increased its position in The Hartford Insurance Group by 2.3% during the 2nd quarter. First Financial Bank Trust Division now owns 79,568 shares of the insurance provider's stock valued at $10,095,000 after purchasing an additional 1,783 shares during the period. AG2R LA Mondiale Gestion D Actifs bought a new position in shares of The Hartford Insurance Group during the 1st quarter worth approximately $1,496,000. Finally, Swedbank AB boosted its holdings in shares of The Hartford Insurance Group by 20.8% during the 1st quarter. Swedbank AB now owns 625,679 shares of the insurance provider's stock worth $77,415,000 after buying an additional 107,934 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

Insider Activity at The Hartford Insurance Group

In related 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 Securities & Exchange Commission, which is available at this link. 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 owned 77,574 shares of the company's stock, valued at approximately $9,580,389. This represents a 31.30% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

The Hartford Insurance Group Trading Down 0.5%

NYSE HIG opened at $132.52 on Friday. The firm has a market capitalization of $37.26 billion, a P/E ratio of 12.01, a PEG ratio of 1.29 and a beta of 0.72. The business has a fifty day simple moving average of $127.74 and a 200 day simple moving average of $124.53. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.17. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the firm posted $2.50 EPS. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a yield of 1.6%. The Hartford Insurance Group's dividend payout ratio is currently 18.86%.

Analyst Ratings Changes

HIG has been the subject of a number of research reports. Wells Fargo & Company raised their price target on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday. Cantor Fitzgerald started 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 for the company. Piper Sandler upped their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Finally, Morgan Stanley increased their price target on 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. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $138.00.

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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