The Hartford Insurance Group, Inc. $HIG Shares Bought by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC increased its holdings in The Hartford Insurance Group by 76.1%, now owning 26,808 shares valued at $3.32 million.
• The Hartford's stock is currently rated as a "Moderate Buy" with an average price target of $137.64, following several analyst upgrades.
• The firm declared a quarterly dividend of $0.52, yielding 1.6%, with payment scheduled for October 2nd.

Kovitz Investment Group Partners LLC increased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 76.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,808 shares of the insurance provider's stock after acquiring an additional 11,582 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in The Hartford Insurance Group were worth $3,317,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its stake in The Hartford Insurance Group by 14,049.5% in the 1st quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock valued at $1,761,930,000 after buying an additional 1,413,945 shares during the period. Ameriprise Financial Inc. increased its stake in The Hartford Insurance Group by 48.1% in the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock valued at $247,761,000 after buying an additional 735,170 shares during the period. Nuveen LLC acquired a new position in The Hartford Insurance Group in the 1st quarter valued at $87,516,000. Northern Trust Corp increased its stake in The Hartford Insurance Group by 17.2% in the 4th quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock valued at $387,021,000 after buying an additional 519,717 shares during the period. Finally, Freestone Grove Partners LP acquired a new position in The Hartford Insurance Group in the 4th quarter valued at $46,271,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Beth Ann Costello sold 35,340 shares of the business'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 approximately $9,580,389. The trade was a 31.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HIG shares. Wells Fargo & Company boosted their target price on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Raymond James Financial restated an "outperform" rating and set a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. UBS Group boosted their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Morgan Stanley boosted their target price on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research 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 research report on Saturday, August 2nd. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.64.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock traded up $0.7780 on Friday, hitting $133.9780. The company's stock had a trading volume of 1,459,319 shares, compared to its average volume of 1,481,287. The firm has a fifty day moving average price of $125.64 and a 200-day moving average price of $122.44. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $134.94. The company has a market capitalization of $37.67 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 1.29 and a beta of 0.67. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25.

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

The Hartford Insurance Group Announces Dividend

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

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.