Great Lakes Advisors LLC Acquires 28,103 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Great Lakes Advisors LLC has increased its stake in The Hartford Insurance Group by 28,103 shares, raising its investment to 1,157,484 shares, making it the 13th largest position in their portfolio.
• Institutional investors hold 93.42% of The Hartford's stock, with notable increases from firms such as Northern Trust Corp and Bahl & Gaynor Inc. during the first quarter.
• The Hartford Insurance Group recently reported a Q2 earnings per share of $3.41, exceeding estimates by $0.58, and disclosed a quarterly dividend of $0.52 per share, with an annual yield of 1.6%.

Great Lakes Advisors LLC raised its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 2.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,157,484 shares of the insurance provider's stock after buying an additional 28,103 shares during the period. The Hartford Insurance Group comprises approximately 1.3% of Great Lakes Advisors LLC's holdings, making the stock its 13th largest holding. Great Lakes Advisors LLC owned about 0.41% of The Hartford Insurance Group worth $143,154,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its position in The Hartford Insurance Group by 167.8% in the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock valued at $39,000 after buying an additional 198 shares during the last quarter. Sharp Financial Services LLC acquired a new position in shares of The Hartford Insurance Group in the 1st quarter valued at $260,000. Oppenheimer & Co. Inc. boosted its position in shares of 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 purchasing an additional 2,000 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of The Hartford Insurance Group during the first quarter worth $233,000. Finally, Aurora Investment Counsel bought a new stake in The Hartford Insurance Group in the first quarter valued at about $2,434,000. 93.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction dated 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

The Hartford Insurance Group Stock Down 0.5%

HIG stock traded down $0.70 during trading hours on Friday, reaching $132.52. 1,103,850 shares of the stock were exchanged, compared to its average volume of 1,620,019. The company has a market cap of $37.26 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.27 and a beta of 0.72. The firm's 50-day moving average is $127.58 and its 200-day moving average is $124.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.17.

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, 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 revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 EPS. On average, equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders 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 dividend yield of 1.6%. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 18.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HIG shares. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. JPMorgan Chase & Co. upped their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Barclays dropped their price objective on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Wells Fargo & Company raised their price objective 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. Finally, Citigroup started coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.