LPL Financial LLC Acquires 5,295 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• LPL Financial LLC increased its holdings in The Hartford Insurance Group by 2.6%, owning a total of 211,874 shares valued at approximately $26.2 million after purchasing an additional 5,295 shares in the first quarter.
• The Hartford Insurance Group reported earnings of $3.41 per share for the last quarter, exceeding analysts' expectations of $2.83, and demonstrated a 7.7% increase in revenue compared to the same period last year.
• The company announced a quarterly dividend of $0.52 per share, translating to an annualized dividend of $2.08 and a dividend yield of 1.7%, with a payout ratio of 18.86%.

LPL Financial LLC grew its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,874 shares of the insurance provider's stock after buying an additional 5,295 shares during the quarter. LPL Financial LLC owned approximately 0.07% of The Hartford Insurance Group worth $26,215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Empirical Finance LLC lifted its position in The Hartford Insurance Group by 2.5% during the 1st quarter. Empirical Finance LLC now owns 10,894 shares of the insurance provider's stock worth $1,348,000 after buying an additional 267 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of The Hartford Insurance Group by 52.3% in the 1st quarter. HB Wealth Management LLC now owns 7,588 shares of the insurance provider's stock valued at $939,000 after purchasing an additional 2,606 shares during the period. Applied Finance Capital Management LLC raised its holdings in shares of The Hartford Insurance Group by 14.1% in the 1st quarter. Applied Finance Capital Management LLC now owns 7,016 shares of the insurance provider's stock valued at $868,000 after purchasing an additional 865 shares during the period. Knights of Columbus Asset Advisors LLC raised its holdings in shares of The Hartford Insurance Group by 6.1% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 70,135 shares of the insurance provider's stock valued at $8,678,000 after purchasing an additional 4,008 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of The Hartford Insurance Group by 13.4% in the 1st quarter. Cetera Investment Advisers now owns 62,049 shares of the insurance provider's stock valued at $7,677,000 after purchasing an additional 7,314 shares during the period. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Stock Performance

Shares of NYSE:HIG opened at $122.86 on Monday. The company's 50 day moving average price is $125.05 and its two-hundred day moving average price is $120.73. The Hartford Insurance Group, Inc. has a 12-month low of $103.96 and a 12-month high of $132.09. The firm has a market cap of $34.54 billion, a PE ratio of 11.14, a PEG ratio of 1.22 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 (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the prior year, the business posted $2.50 EPS. The business's revenue was up 7.7% compared to the same quarter last year. Equities research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HIG. Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday. Keefe, Bruyette & Woods lowered their price target on shares of The Hartford Insurance Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley increased their price target on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Finally, UBS Group increased their price target on shares of The Hartford Insurance Group from $142.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $135.67.

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.

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