Lecap Asset Management Ltd. Makes New Investment in The Hartford Insurance Group, Inc. $HIG

Key Points

• Lecap Asset Management Ltd. has acquired a new position in The Hartford Insurance Group, purchasing 15,186 shares valued at approximately $1.9 million in the second quarter.
• Insider trading reports indicate significant share sales by CFO Beth Ann Costello and EVP Donald Christian Hunt, with Costello's sale being a 31.30% decrease in her ownership of the stock.
• The Hartford is announcing a quarterly dividend of $0.52 per share, with a dividend yield of 1.6%, alongside a positive earnings report showing a 12-month high share price of $135.17.

Lecap Asset Management Ltd. acquired a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,186 shares of the insurance provider's stock, valued at approximately $1,927,000.

Several other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in The Hartford Insurance Group by 11.3% in the first quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider's stock worth $487,077,000 after purchasing an additional 398,950 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in The Hartford Insurance Group by 1.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider's stock worth $434,181,000 after purchasing an additional 60,116 shares during the last quarter. Bahl & Gaynor Inc. lifted its stake in The Hartford Insurance Group by 47.0% in the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock worth $264,972,000 after purchasing an additional 684,390 shares during the last quarter. Amundi lifted its stake in The Hartford Insurance Group by 27.4% in the first quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock worth $239,905,000 after purchasing an additional 417,951 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake in The Hartford Insurance Group by 31.9% in the first quarter. AustralianSuper Pty Ltd now owns 1,600,215 shares of the insurance provider's stock worth $197,995,000 after purchasing an additional 387,141 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

Insiders Place Their Bets

In other news, CFO Beth Ann Costello sold 35,340 shares of the business'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 directly owned 77,574 shares of the company's stock, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

The Hartford Insurance Group Price Performance

NYSE HIG opened at $133.02 on Thursday. The firm's fifty day simple moving average is $130.25 and its two-hundred day simple moving average is $125.74. 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 Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.17. The firm has a market capitalization of $37.40 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.29 and a beta of 0.69.

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 (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.58. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.50 earnings per share. Analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS 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 issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The Hartford Insurance Group's payout ratio is 18.86%.

Analyst Ratings Changes

Several analysts have recently weighed in on HIG shares. UBS Group lifted their price target 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, August 4th. Citigroup started coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price objective on the stock. Wall Street Zen downgraded The Hartford Insurance Group from a "buy" rating to a "hold" rating in a report on Sunday, September 21st. Keefe, Bruyette & Woods boosted their price objective on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Finally, Wolfe Research assumed coverage on shares of The Hartford Insurance Group in a research note on Tuesday, September 16th. They issued a "peer perform" rating for the company. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $137.93.

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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