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Founders Financial Alliance LLC Takes Position in The Hartford Insurance Group, Inc. (NYSE:HIG)

The Hartford Insurance Group logo with Finance background

Key Points

  • Founders Financial Alliance LLC acquired 2,091 shares of The Hartford Insurance Group, valued at approximately $259,000, marking a new stake during the 1st quarter.
  • The Hartford Insurance Group reported $3.41 EPS for the last quarter, exceeding analysts' expectations of $2.83, while its revenue grew 7.7% year-over-year.
  • A quarterly dividend of $0.52 will be paid on October 2nd, with an annualized yield of 1.6% and a payout ratio of 18.86%.
  • Need Better Tools to Track The Hartford Insurance Group? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Founders Financial Alliance LLC purchased a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 2,091 shares of the insurance provider's stock, valued at approximately $259,000.

A number of other institutional investors have also added to or reduced their stakes in HIG. Park Square Financial Group LLC lifted its holdings in The Hartford Insurance Group by 146.2% during the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after buying an additional 155 shares during the period. Spurstone Advisory Services LLC acquired a new stake in The Hartford Insurance Group during the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. bought a new position in shares of The Hartford Insurance Group during the 1st quarter worth approximately $33,000. Itau Unibanco Holding S.A. bought a new position in The Hartford Insurance Group during the fourth quarter worth $35,000. Finally, Meeder Asset Management Inc. grew its stake in shares of The Hartford Insurance Group by 123.8% in the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock valued at $36,000 after buying an additional 161 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock opened at $128.20 on Friday. The company has a market capitalization of $36.04 billion, a PE ratio of 11.62, a P/E/G ratio of 1.26 and a beta of 0.67. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $132.09. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The company has a 50 day moving average price of $124.83 and a 200-day moving average price of $121.21.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The firm 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 Hartford Insurance Group's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 earnings per share. As a group, equities analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

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

Insider Activity

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 transaction of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares of the company's stock, valued at $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HIG. UBS Group upped their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, August 4th. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. 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. Barclays lowered their target price on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. Finally, Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $136.42.

Check Out Our Latest Stock Report on HIG

About The Hartford Insurance Group

(Free Report)

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.

See Also

Institutional Ownership by Quarter for The Hartford Insurance Group (NYSE:HIG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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