Principle Wealth Partners LLC Makes New $268,000 Investment in The Hartford Insurance Group, Inc. $HIG

Key Points

• Principle Wealth Partners LLC made a new investment of approximately $268,000 in The Hartford Insurance Group, acquiring 2,110 shares in the second quarter.
• Several large investors, including Woodline Partners LP and Nuveen LLC, have significantly increased their holdings in The Hartford, contributing to the fact that 93.42% of the stock is owned by institutional investors.
• Research analysts have given The Hartford an average rating of "Moderate Buy," with multiple price targets set around $140.07 to $152.00, reflecting positive sentiment towards the company's stock.

Principle Wealth Partners LLC purchased a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,110 shares of the insurance provider's stock, valued at approximately $268,000.

Several other large investors also recently modified their holdings of HIG. Woodline Partners LP increased its holdings in shares of The Hartford Insurance Group by 28,218.5% in the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider's stock worth $93,763,000 after acquiring an additional 755,128 shares in the last quarter. Nuveen LLC bought a new position in shares of The Hartford Insurance Group during the first quarter worth about $87,516,000. Bahl & Gaynor Inc. grew its holdings in shares of The Hartford Insurance Group by 47.0% during the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock worth $264,972,000 after buying an additional 684,390 shares in the last quarter. Amundi grew its holdings in shares of The Hartford Insurance Group by 27.4% during the first quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock worth $239,905,000 after buying an additional 417,951 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of The Hartford Insurance Group by 38.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,493,077 shares of the insurance provider's stock worth $189,427,000 after buying an additional 414,216 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HIG shares. Cantor Fitzgerald started coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set an "overweight" rating and a $152.00 price objective for the company. Wells Fargo & Company increased their price objective on The Hartford Insurance Group from $139.00 to $147.00 and gave the stock an "overweight" rating in a report on Wednesday, October 8th. Citigroup started coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price objective for the company. Raymond James Financial restated an "outperform" rating and issued a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Finally, UBS Group raised their price target on The Hartford Insurance Group from $150.00 to $152.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of "Moderate Buy" and a consensus price target of $140.07.

The Hartford Insurance Group Stock Up 0.1%

HIG stock opened at $125.05 on Friday. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17. The company has a market cap of $35.16 billion, a price-to-earnings ratio of 11.34, a P/E/G ratio of 1.21 and a beta of 0.69. The business has a 50 day moving average price of $131.01 and a two-hundred day moving average price of $126.66. 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 Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The company had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. During the same period last year, the firm posted $2.50 earnings per share. The business's revenue was up 7.7% on a year-over-year basis. Analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Donald Christian Hunt sold 2,124 shares of the firm'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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of the firm'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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

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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