EntryPoint Capital LLC Makes New $305,000 Investment in The Hartford Insurance Group, Inc. $HIG

Key Points

• EntryPoint Capital LLC has invested approximately $305,000 in The Hartford Insurance Group by acquiring 2,462 shares of the company.
• The Hartford's last earnings report showed an EPS of $3.41, exceeding estimates by $0.58, alongside a revenue increase of 7.7% year-over-year.
• The company will pay a quarterly dividend of $0.52 on October 2nd, reflecting an annualized dividend yield of 1.6%.

EntryPoint Capital LLC bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,462 shares of the insurance provider's stock, valued at approximately $305,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. NorthRock Partners LLC lifted its stake in shares of The Hartford Insurance Group by 2.6% in the 1st quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider's stock valued at $395,000 after purchasing an additional 80 shares during the period. Wayfinding Financial LLC lifted its stake in shares of The Hartford Insurance Group by 3.0% in the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider's stock valued at $355,000 after purchasing an additional 84 shares during the period. Wealthspire Advisors LLC lifted its stake in shares of The Hartford Insurance Group by 3.2% in the 1st quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider's stock valued at $356,000 after purchasing an additional 88 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of The Hartford Insurance Group by 1.7% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 5,580 shares of the insurance provider's stock valued at $690,000 after purchasing an additional 95 shares during the period. Finally, HighPoint Advisor Group LLC lifted its stake in shares of The Hartford Insurance Group by 4.1% in the 1st quarter. HighPoint Advisor Group LLC now owns 2,447 shares of the insurance provider's stock valued at $299,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Up 0.6%

The Hartford Insurance Group stock opened at $133.9780 on Friday. The firm has a market cap of $37.67 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.29 and a beta of 0.67. The stock has a fifty day simple moving average of $125.64 and a two-hundred day simple moving average of $122.44. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $134.94. 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 posted its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the company earned $2.50 EPS. The company's quarterly revenue was up 7.7% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The Hartford Insurance Group's payout ratio is presently 18.86%.

Insider Activity at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction on 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 completion of the sale, the chief financial officer owned 77,574 shares of the company's stock, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

HIG has been the subject of a number of research analyst reports. Raymond James Financial restated an "outperform" rating and issued a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Citigroup assumed coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price objective for the company. Wells Fargo & Company raised their price objective on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Morgan Stanley raised their price objective on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Finally, UBS Group raised their price objective on 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. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $137.64.

About The Hartford Insurance Group

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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