MBB Public Markets I LLC Buys Shares of 2,730 The Hartford Insurance Group, Inc. $HIG

Key Points

• MBB Public Markets I LLC has acquired a new stake in The Hartford Insurance Group, purchasing 2,730 shares valued at approximately $338,000 during the 1st quarter of 2023.
• The Hartford Insurance Group reported an earnings per share (EPS) of $3.41 for the last quarter, exceeding analyst expectations of $2.83, while its revenue was slightly below forecasts at $6.99 billion.
• The company has recently declared a quarterly dividend of $0.52 per share, with an annual yield of 1.6%, to be paid on October 2nd to investors of record on September 2nd.

MBB Public Markets I LLC purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,730 shares of the insurance provider's stock, valued at approximately $338,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its stake in shares of The Hartford Insurance Group by 167.8% in the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock worth $39,000 after purchasing an additional 198 shares during the last quarter. Sharp Financial Services LLC purchased a new position in shares of The Hartford Insurance Group in the first quarter worth about $260,000. Oppenheimer & Co. Inc. raised its stake in shares of The Hartford Insurance Group by 86.7% in the first quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock worth $533,000 after purchasing an additional 2,000 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of The Hartford Insurance Group in the first quarter worth about $233,000. Finally, Aurora Investment Counsel purchased a new position in shares of The Hartford Insurance Group in the first quarter worth about $2,434,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $4,364,490.00. Following the completion of the sale, the chief financial officer owned 77,574 shares in the company, valued at $9,580,389. This represents a 31.30% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

The Hartford Insurance Group Trading Down 0.5%

The Hartford Insurance Group stock traded down $0.70 during trading on Friday, reaching $132.52. 1,103,850 shares of the company were exchanged, compared to its average volume of 1,622,632. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $135.17. The company has a market capitalization of $37.26 billion, a P/E ratio of 12.01, a PEG ratio of 1.27 and a beta of 0.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The stock's 50 day simple moving average is $127.58 and its two-hundred day simple moving average is $124.36.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The firm had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter last year, the business posted $2.50 earnings per share. The firm's revenue was up 7.7% compared to the same quarter last year. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors 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 dividend on an annualized basis and a yield of 1.6%. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 18.86%.

Analyst Ratings Changes

Several research analysts have recently issued reports on HIG shares. Morgan Stanley raised their price objective on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Barclays reduced their price objective on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Piper Sandler raised their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Citigroup began coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 price objective for the company. Finally, Wall Street Zen lowered The Hartford Insurance Group from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, The Hartford Insurance Group currently has an average rating of "Moderate Buy" and a consensus target price of $138.00.

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.