Jump Financial LLC Raises Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Jump Financial LLC increased its stake in The Hartford Insurance Group by 330.5%, owning 28,218 shares valued at $3.49 million after purchasing an additional 21,664 shares.
• The Hartford Insurance Group recently reported a quarterly EPS of $3.41, exceeding analysts' expectations of $2.83, while revenue reached $6.99 billion.
• The company declared a quarterly dividend of $0.52, with an annualized yield of 1.6%, scheduled to be paid on October 2nd to investors of record on September 2nd.

Jump Financial LLC increased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 330.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,218 shares of the insurance provider's stock after acquiring an additional 21,664 shares during the period. Jump Financial LLC's holdings in The Hartford Insurance Group were worth $3,491,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its holdings in shares of The Hartford Insurance Group by 68.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,948 shares of the insurance provider's stock worth $483,000 after acquiring an additional 1,605 shares during the last quarter. Bahl & Gaynor Inc. raised its holdings in shares of The Hartford Insurance Group by 47.0% in the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock worth $264,972,000 after acquiring an additional 684,390 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in The Hartford Insurance Group by 78.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 35,352 shares of the insurance provider's stock valued at $4,374,000 after buying an additional 15,554 shares during the last quarter. Allstate Corp increased its stake in The Hartford Insurance Group by 26.6% in the 1st quarter. Allstate Corp now owns 11,015 shares of the insurance provider's stock valued at $1,363,000 after buying an additional 2,315 shares during the last quarter. Finally, Monetary Management Group Inc. increased its stake in The Hartford Insurance Group by 1.9% in the 1st quarter. Monetary Management Group Inc. now owns 6,800 shares of the insurance provider's stock valued at $841,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HIG shares. Cantor Fitzgerald started coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an "overweight" rating and a $152.00 price target for the company. Citigroup started coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price target for the company. Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Raymond James Financial restated 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 note on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their price objective 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. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $137.64.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following 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 this link. Company insiders own 1.50% of the company's stock.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock traded up $0.09 on Friday, hitting $132.31. 1,142,839 shares of the company traded hands, compared to its average volume of 1,632,582. The firm's 50-day simple moving average is $126.24 and its 200 day simple moving average is $122.98. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The company has a market cap of $37.20 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.29 and a beta of 0.67. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $134.93.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted 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 firm had revenue of $6.99 billion for the quarter, compared to analysts' expectations of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $2.50 EPS. Analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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 given a dividend of $0.52 per share. 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%.

About The Hartford Insurance Group

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.