Oppenheimer Asset Management Inc. Takes Position in The Hartford Insurance Group, Inc. (NYSE:HIG)

Oppenheimer Asset Management Inc. bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,739 shares of the insurance provider's stock, valued at approximately $586,000.

A number of other large investors have also recently made changes to their positions in the stock. Spurstone Advisory Services LLC bought a new position in The Hartford Insurance Group during the 4th quarter worth about $33,000. Center for Financial Planning Inc. bought a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $33,000. Itau Unibanco Holding S.A. purchased a new stake in The Hartford Insurance Group during the fourth quarter valued at approximately $35,000. Flagship Wealth Advisors LLC acquired a new stake in The Hartford Insurance Group in the fourth quarter valued at approximately $36,000. Finally, Curat Global LLC acquired a new stake in The Hartford Insurance Group in the first quarter valued at approximately $49,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Performance

Shares of NYSE HIG traded up $1.81 during midday trading on Thursday, reaching $124.71. 937,213 shares of the stock were exchanged, compared to its average volume of 1,587,361. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.26. The firm has a 50-day simple moving average of $126.66 and a two-hundred day simple moving average of $118.55. The Hartford Insurance Group, Inc. has a twelve month low of $98.16 and a twelve month high of $132.09. The firm has a market cap of $35.43 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.23 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.15 by $0.05. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. The Hartford Insurance Group had a net margin of 11.10% and a return on equity of 18.73%. The firm's revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $2.34 earnings per share. As a group, analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Monday, June 2nd. The Hartford Insurance Group's payout ratio is currently 20.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their price objective on The Hartford Insurance Group from $115.00 to $130.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Piper Sandler upped their price objective on shares of The Hartford Insurance Group from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Barclays increased their price objective on shares of The Hartford Insurance Group from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. boosted their target price on shares of The Hartford Insurance Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group decreased their price target on shares of The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating for the company in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $132.58.

Insider Buying and Selling

In other news, SVP Allison G. Niderno sold 1,086 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the completion of the sale, the senior vice president owned 622 shares of the company's stock, valued at $74,279.24. This represents a 63.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company's stock.

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.