The Hartford Insurance Group, Inc. $HIG Stock Holdings Raised by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC increased its stake in The Hartford Insurance Group by 12.1%, acquiring an additional 5,971 shares to reach a total of 55,254 shares valued at approximately $6.84 million.
• Key analysts have given varied ratings on the stock, with Wells Fargo raising its price target to $139.00 and noting a consensus target price of $138.00 among analysts.
• The Hartford Insurance Group announced a quarterly dividend of $0.52 per share, with a dividend yield of 1.6%, scheduled to be paid on October 2nd.

NewEdge Advisors LLC lifted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 12.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 55,254 shares of the insurance provider's stock after buying an additional 5,971 shares during the period. NewEdge Advisors LLC's holdings in The Hartford Insurance Group were worth $6,837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HIG. Baird Financial Group Inc. lifted its stake in shares of The Hartford Insurance Group by 2.6% during the fourth quarter. Baird Financial Group Inc. now owns 21,364 shares of the insurance provider's stock valued at $2,337,000 after buying an additional 550 shares during the period. Balyasny Asset Management L.P. raised its stake in The Hartford Insurance Group by 608.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 16,778 shares of the insurance provider's stock worth $1,836,000 after purchasing an additional 20,078 shares during the period. Captrust Financial Advisors raised its stake in The Hartford Insurance Group by 6.2% during the fourth quarter. Captrust Financial Advisors now owns 21,385 shares of the insurance provider's stock worth $2,340,000 after purchasing an additional 1,254 shares during the period. Cetera Investment Advisers raised its stake in The Hartford Insurance Group by 4.5% during the fourth quarter. Cetera Investment Advisers now owns 54,735 shares of the insurance provider's stock worth $5,988,000 after purchasing an additional 2,372 shares during the period. Finally, Deutsche Bank AG raised its stake in The Hartford Insurance Group by 16.5% during the fourth quarter. Deutsche Bank AG now owns 1,121,087 shares of the insurance provider's stock worth $122,647,000 after purchasing an additional 159,028 shares during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.

Analyst Ratings Changes

HIG has been the topic of a number of recent analyst reports. UBS Group increased their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Morgan Stanley increased their price target on shares of 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. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday. Keefe, Bruyette & Woods increased their price target 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, Barclays cut their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $138.00.

Insiders Place Their Bets

In related news, CFO Beth Ann Costello sold 35,340 shares of the firm'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 completion of the sale, the chief financial officer directly owned 77,574 shares of the company's stock, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the business's stock in a transaction dated Friday, September 5th. The stock was 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 currently owned by company insiders.

The Hartford Insurance Group Trading Down 0.5%

Shares of HIG stock traded down $0.70 during mid-day trading on Friday, reaching $132.52. The company's stock had a trading volume of 1,127,441 shares, compared to its average volume of 1,341,102. The company's 50 day simple moving average is $127.74 and its 200-day simple moving average is $124.53. 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 quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The firm has a market capitalization 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 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 for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The business had revenue of $6.99 billion during 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 was up 7.7% on a year-over-year basis. During the same period last year, the business earned $2.50 EPS. On average, research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 18.86%.

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.