Patton Fund Management Inc. Makes New $283,000 Investment in The Hartford Insurance Group, Inc. $HIG

Key Points

• Patton Fund Management Inc. invested approximately $283,000 in The Hartford Insurance Group by purchasing 2,232 shares during the second quarter.
• Several institutional investors, including Kathmere Capital Management and ST Germain D J Co. Inc., increased their stakes in The Hartford Insurance Group, reflecting growing confidence in the company's performance.
• The Hartford Insurance Group recently declared a quarterly dividend of $0.52, which represents an annualized dividend yield of 1.6%.

Patton Fund Management Inc. purchased a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,232 shares of the insurance provider's stock, valued at approximately $283,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kathmere Capital Management LLC raised its position in The Hartford Insurance Group by 18.9% in the second quarter. Kathmere Capital Management LLC now owns 8,953 shares of the insurance provider's stock worth $1,136,000 after acquiring an additional 1,424 shares in the last quarter. ST Germain D J Co. Inc. increased its stake in The Hartford Insurance Group by 79.1% in the 2nd quarter. ST Germain D J Co. Inc. now owns 3,047 shares of the insurance provider's stock worth $387,000 after purchasing an additional 1,346 shares in the last quarter. Perigon Wealth Management LLC increased its stake in The Hartford Insurance Group by 10.3% in the 2nd quarter. Perigon Wealth Management LLC now owns 3,108 shares of the insurance provider's stock worth $394,000 after purchasing an additional 289 shares in the last quarter. CHB Investment Group LLC increased its stake in The Hartford Insurance Group by 5.9% in the 2nd quarter. CHB Investment Group LLC now owns 28,033 shares of the insurance provider's stock worth $3,557,000 after purchasing an additional 1,550 shares in the last quarter. Finally, Accurate Wealth Management LLC increased its stake in The Hartford Insurance Group by 14.8% in the 2nd quarter. Accurate Wealth Management LLC now owns 6,378 shares of the insurance provider's stock worth $778,000 after purchasing an additional 824 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Piper Sandler lifted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Wells Fargo & Company lifted their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Morgan Stanley lifted their price target on 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. Cantor Fitzgerald initiated coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an "overweight" rating and a $152.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $138.00.

Insider Activity at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the business's stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of the business's stock in a transaction that occurred 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 directly owned 77,574 shares of the company's stock, valued at approximately $9,580,389. The trade was a 31.30% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

The Hartford Insurance Group Trading Up 1.1%

NYSE:HIG opened at $133.04 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.17. The stock's 50-day moving average is $129.64 and its two-hundred day moving average is $125.42. The stock has a market cap of $37.41 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating the consensus estimate of $2.83 by $0.58. The business had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 EPS. As a group, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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 paid a $0.52 dividend. The ex-dividend date of this dividend is 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%.

About The Hartford Insurance Group

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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