EP Wealth Advisors LLC Makes New Investment in The Hartford Insurance Group, Inc. $HIG

EP Wealth Advisors LLC purchased a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,253 shares of the insurance provider's stock, valued at approximately $2,286,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. First Pacific Financial bought a new stake in shares of The Hartford Insurance Group during the 1st quarter worth $26,000. MidFirst Bank bought a new position in The Hartford Insurance Group in the second quarter valued at $26,000. JPL Wealth Management LLC purchased a new stake in The Hartford Insurance Group during the third quarter valued at about $26,000. Navigoe LLC purchased a new stake in The Hartford Insurance Group during the second quarter valued at about $27,000. Finally, Phillip James Consulting Co. bought a new stake in The Hartford Insurance Group during the first quarter worth about $29,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Down 0.6%

Shares of NYSE:HIG opened at $136.30 on Friday. The stock's 50-day moving average price is $137.56 and its 200-day moving average price is $136.64. The Hartford Insurance Group, Inc. has a 12-month low of $120.33 and a 12-month high of $146.07. The stock has a market capitalization of $36.92 billion, a P/E ratio of 8.81, a price-to-earnings-growth ratio of 3.34 and a beta of 0.46. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating analysts' consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The company had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the previous year, the company posted $3.41 EPS. The Hartford Insurance Group's revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group's payout ratio is 15.51%.

Insider Buying and Selling

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their price objective on The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a "market perform" rating in a report on Tuesday, July 28th. Wells Fargo & Company decreased their price objective on The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, July 27th. Zacks Research downgraded The Hartford Insurance Group from a "hold" rating to a "strong sell" rating in a research report on Monday, July 27th. Cantor Fitzgerald upped their target price on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Finally, Barclays reduced their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a research report on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $149.67.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

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