HB Wealth Management LLC Boosts Stock Holdings in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• HB Wealth Management LLC increased its ownership in The Hartford Insurance Group by 52.3%, now holding 7,588 shares valued at approximately $939,000.
• The Hartford reported a quarterly EPS of $3.41, exceeding estimates of $2.83, with revenue of $6.99 billion, showing a 7.7% year-over-year increase.
• The company announced a quarterly dividend of $0.52 per share, reflecting an annualized yield of 1.67%, with a dividend payout ratio of 18.86%.

HB Wealth Management LLC increased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 52.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,588 shares of the insurance provider's stock after purchasing an additional 2,606 shares during the quarter. HB Wealth Management LLC's holdings in The Hartford Insurance Group were worth $939,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its stake in shares of The Hartford Insurance Group by 167.8% during the 1st 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 last quarter. Sharp Financial Services LLC acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter worth $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 in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter worth $233,000. Finally, Aurora Investment Counsel acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter worth $2,434,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Price Performance

NYSE HIG traded down $1.53 during trading hours on Friday, reaching $122.86. The company's stock had a trading volume of 1,797,758 shares, compared to its average volume of 1,574,731. The firm has a market capitalization of $34.54 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 1.23 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 1-year low of $103.96 and a 1-year high of $132.09. 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 company's 50-day moving average is $125.05 and its two-hundred day moving average is $120.61.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the firm posted $2.50 EPS. On average, equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is 18.86%.

Wall Street Analysts Forecast Growth

HIG has been the subject of a number of recent analyst reports. Barclays lowered their price objective on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research report on Monday, July 7th. Jefferies Financial Group lowered their price target on The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. lifted their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a research report on Tuesday. Wells Fargo & Company lifted their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $135.67.

The Hartford Insurance Group Company 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.