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

Key Points

• Keynote Financial Services LLC acquired 3,646 shares of The Hartford Insurance Group, valued at approximately $451,000, marking its new position in the company.
• Multiple institutional investors increased their stakes in The Hartford, with the collective institutional ownership reaching 93.42% of the company's stock.
• The Hartford Insurance Group announced a quarterly dividend of $0.52 per share, with an ex-dividend date set for September 2nd, representing an annual yield of 1.6%.

Keynote Financial Services LLC acquired a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,646 shares of the insurance provider's stock, valued at approximately $451,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. NorthRock Partners LLC increased its stake in shares of The Hartford Insurance Group by 2.6% during the first quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider's stock valued at $395,000 after purchasing an additional 80 shares in the last quarter. Wayfinding Financial LLC increased its stake in shares of The Hartford Insurance Group by 3.0% during the first quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider's stock valued at $355,000 after purchasing an additional 84 shares in the last quarter. Wealthspire Advisors LLC increased its stake in shares of The Hartford Insurance Group by 3.2% during the first quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider's stock valued at $356,000 after purchasing an additional 88 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of The Hartford Insurance Group by 1.7% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 5,580 shares of the insurance provider's stock valued at $690,000 after purchasing an additional 95 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its stake in shares of The Hartford Insurance Group by 4.1% during the first quarter. HighPoint Advisor Group LLC now owns 2,447 shares of the insurance provider's stock valued at $299,000 after purchasing an additional 96 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on HIG shares. UBS Group raised their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a research note on Monday. Jefferies Financial Group decreased their target price on shares of The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Wells Fargo & Company increased their price target on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $136.42.

Insider Transactions at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group 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 transaction, the chief financial officer owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.50% of the company's stock.

The Hartford Insurance Group Trading Up 1.0%

Shares of HIG stock opened at $128.87 on Thursday. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $132.09. 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 firm's 50 day moving average is $124.93 and its 200 day moving average is $120.93. The stock has a market capitalization of $36.24 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.25 and a beta of 0.67.

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 (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company had revenue of $6.99 billion for the quarter, compared to analysts' expectations of $7.02 billion. During the same quarter last year, the company posted $2.50 earnings per share. The firm's quarterly revenue was up 7.7% on a year-over-year basis. Research analysts expect 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. Investors 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 currently 18.86%.

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.

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