MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 22.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 159,216 shares of the insurance provider's stock after purchasing an additional 29,552 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of The Hartford Insurance Group worth $19,699,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its position in shares of The Hartford Insurance Group by 167.8% during 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 in the last quarter. Sharp Financial Services LLC purchased a new stake in shares of The Hartford Insurance Group during the first quarter worth approximately $260,000. Oppenheimer & Co. Inc. increased its position in shares of The Hartford Insurance Group by 86.7% during 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 in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of The Hartford Insurance Group during the first quarter worth approximately $233,000. Finally, Aurora Investment Counsel purchased a new stake in The Hartford Insurance Group in the 1st quarter valued at $2,434,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.
The Hartford Insurance Group Trading Down 0.5%
The Hartford Insurance Group stock traded down $0.70 during midday trading on Friday, reaching $132.52. 1,127,441 shares of the stock traded hands, compared to its average volume of 1,341,102. The company has a 50-day simple moving average of $127.74 and a two-hundred day simple moving average of $124.53. 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 cap of $37.26 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.72. 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 (NYSE:HIG - Get Free Report) last announced its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating 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 company had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. During the same period last year, the business posted $2.50 EPS. The Hartford Insurance Group's revenue for the quarter 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 fiscal year.
The Hartford Insurance Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be given a $0.52 dividend. The ex-dividend date of this dividend 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 currently 18.86%.
Insider Transactions at The Hartford Insurance Group
In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction dated 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 document filed with the SEC, which is available at this link. Also, CFO Beth Ann Costello sold 35,340 shares of the 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 sale, the chief financial officer directly 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. 1.50% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on HIG. Raymond James Financial restated 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, August 1st. Keefe, Bruyette & Woods upped their price target on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Piper Sandler upped their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. UBS Group upped their price target on 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. Finally, Citigroup initiated coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $138.00.
Check Out Our Latest Research Report on The Hartford Insurance Group
About The Hartford Insurance Group
(
Free Report)
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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