Park Avenue Securities LLC Boosts Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• Park Avenue Securities LLC increased its stake in The Hartford Insurance Group by 20.7%, now owning 25,465 shares valued at approximately $3.23 million as of the end of the second quarter.
• The Hartford Insurance Group reported $3.41 earnings per share, surpassing analysts' expectations of $2.83 and achieving a net margin of 11.83% for the last quarter.
• The company announced a quarterly dividend of $0.52, which will be paid on October 2nd, representing an annualized yield of 1.6% with a dividend payout ratio of 18.86%.

Park Avenue Securities LLC increased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 20.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,465 shares of the insurance provider's stock after buying an additional 4,375 shares during the quarter. Park Avenue Securities LLC's holdings in The Hartford Insurance Group were worth $3,231,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC lifted its stake in shares of The Hartford Insurance Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 155 shares during the last quarter. Center for Financial Planning Inc. acquired a new position in The Hartford Insurance Group in the first quarter valued at about $33,000. Meeder Asset Management Inc. boosted its stake in The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after buying an additional 161 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at approximately $37,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of The Hartford Insurance Group by 167.8% in the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock worth $39,000 after acquiring an additional 198 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $131.64 on Wednesday. The business has a 50-day simple moving average of $129.02 and a 200-day simple moving average of $125.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17. The company has a market cap of $37.01 billion, a PE ratio of 11.93, a P/E/G ratio of 1.26 and a beta of 0.72.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the previous year, the firm earned $2.50 earnings per share. The firm's quarterly revenue was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend 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 is 18.86%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HIG. JPMorgan Chase & Co. boosted their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Wall Street Zen downgraded The Hartford Insurance Group from a "buy" rating to a "hold" rating in a report on Sunday. Barclays dropped their target price on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research report on Monday, July 7th. 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 report on Wednesday, July 30th. Finally, Cantor Fitzgerald assumed coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, The Hartford Insurance Group currently has an average rating of "Hold" and an average target price of $138.00.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction dated Monday, August 4th. The stock was 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 $9,580,389. The trade was a 31.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.