Moran Wealth Management LLC Acquires Shares of 41,544 The Hartford Insurance Group, Inc. $HIG

Key Points

• Moran Wealth Management LLC has acquired a new stake of 41,544 shares in The Hartford Insurance Group, valued at approximately $5,271,000.
• Institutional investors dominate ownership of The Hartford Insurance Group, holding 93.42% of the company's stock.
• The Hartford Insurance Group has received predominantly positive ratings from analysts, with a consensus rating of "Moderate Buy" and a target price of $140.07.

Moran Wealth Management LLC acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 41,544 shares of the insurance provider's stock, valued at approximately $5,271,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its stake in 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 valued at $39,000 after acquiring an additional 198 shares during the period. Sharp Financial Services LLC acquired a new stake in The Hartford Insurance Group in the first quarter valued at approximately $260,000. Oppenheimer & Co. Inc. grew its stake in 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 valued at $533,000 after acquiring an additional 2,000 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in The Hartford Insurance Group in the first quarter valued at approximately $233,000. Finally, Aurora Investment Counsel bought a new position in shares of The Hartford Insurance Group in the first quarter valued at approximately $2,434,000. Institutional investors and hedge funds own 93.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wolfe Research assumed coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They issued a "peer perform" rating on the stock. Wall Street Zen upgraded The Hartford Insurance Group from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a "neutral" rating in a report on Thursday, October 9th. Raymond James Financial restated an "outperform" rating and issued a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Finally, Citigroup assumed coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $140.07.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $131.15 on Wednesday. The business's fifty day simple moving average is $131.58 and its 200 day simple moving average is $126.45. The firm has a market capitalization of $36.87 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 1.23 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.17. 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 issued its quarterly earnings results 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 business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The Hartford Insurance Group's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $2.50 earnings per share. As a group, analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

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

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the business's 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 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 approximately $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

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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