Focus Partners Advisor Solutions LLC Grows Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in The Hartford Insurance Group by 73.7%, now owning 6,007 shares valued at $743,000 after acquiring an additional 2,549 shares in Q1.
• Several hedge funds, including GAMMA Investing LLC, have significantly raised their stakes in The Hartford, with GAMMA increasing its ownership by 14,049.5%.
• The company's latest earnings report showed earnings per share of $3.41, exceeding analysts' expectations of $2.83, with a year-over-year revenue increase of 7.7%.

Focus Partners Advisor Solutions LLC boosted its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 73.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,007 shares of the insurance provider's stock after purchasing an additional 2,549 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in The Hartford Insurance Group were worth $743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its holdings in shares of The Hartford Insurance Group by 167.8% in the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock worth $39,000 after purchasing an additional 198 shares during the period. Sharp Financial Services LLC bought a new position in The Hartford Insurance Group in the 1st quarter worth about $260,000. Oppenheimer & Co. Inc. increased its stake in The Hartford Insurance Group by 86.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock worth $533,000 after acquiring an additional 2,000 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in The Hartford Insurance Group in the 1st quarter worth about $233,000. Finally, Aurora Investment Counsel bought a new position in The Hartford Insurance Group in the 1st quarter worth about $2,434,000. 93.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% of the company's stock.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock traded down $3.05 during trading on Friday, hitting $131.65. 1,975,142 shares of the stock traded hands, compared to its average volume of 1,266,722. 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 has a market cap of $37.02 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 1.27 and a beta of 0.72. The firm's fifty day moving average is $127.08 and its 200-day moving average is $123.91. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $135.17.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.58. The company had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The Hartford Insurance Group's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.50 EPS. Research analysts expect 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 disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be issued a $0.52 dividend. The ex-dividend date 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 (DPR) is 18.86%.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of research analyst reports. Piper Sandler upped their target price 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. Wells Fargo & Company upped their target price on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. UBS Group upped their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Cantor Fitzgerald initiated coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 target price on the stock. Finally, Barclays decreased their target price on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and an average target price 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.