Quarry LP Acquires 3,618 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Quarry LP significantly increased its investment in The Hartford Insurance Group by 430.2%, acquiring an additional 3,618 shares, bringing its total to 4,459 shares worth approximately $552,000.
• Despite insider CFO Beth Ann Costello selling 35,340 shares, which decreased her ownership by 31.3%, hedge funds continue to hold a substantial 93.42% stake in the company.
• The company reported $3.41 earnings per share for the last quarter, surpassing expectations, and announced a quarterly dividend of $0.52 per share, reflecting a 1.6% yield for investors.

Quarry LP lifted its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 430.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,459 shares of the insurance provider's stock after buying an additional 3,618 shares during the period. Quarry LP's holdings in The Hartford Insurance Group were worth $552,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in HIG. GAMMA Investing LLC lifted its holdings in shares of The Hartford Insurance Group by 14,049.5% during the first quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock valued at $1,761,930,000 after purchasing an additional 1,413,945 shares during the last quarter. Ameriprise Financial Inc. raised its position in The Hartford Insurance Group by 48.1% during the fourth quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock valued at $247,761,000 after buying an additional 735,170 shares during the period. Nuveen LLC purchased a new position in The Hartford Insurance Group during the 1st quarter valued at about $87,516,000. Bahl & Gaynor Inc. boosted 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 purchasing an additional 684,390 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of The Hartford Insurance Group by 11.3% during the 1st quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider's stock valued at $487,077,000 after buying an additional 398,950 shares during the period. Institutional investors and hedge funds own 93.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Piper Sandler upped their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday. Barclays decreased their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a report on Monday, July 7th. JPMorgan Chase & Co. raised their price objective 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. UBS Group raised their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Finally, Citigroup began coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $138.00.

Insider Buying and Selling

In other news, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

The Hartford Insurance Group Price Performance

Shares of HIG traded up $1.10 during trading hours on Wednesday, hitting $133.01. The stock had a trading volume of 1,224,516 shares, compared to its average volume of 1,220,610. The stock has a market capitalization of $37.40 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 1.28 and a beta of 0.72. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $134.93. 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 company's fifty day moving average is $126.57 and its two-hundred day moving average is $123.49.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.50 EPS. On average, analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current 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 dividend of $0.52 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a yield of 1.6%. The Hartford Insurance Group's dividend payout ratio is presently 18.86%.

The Hartford Insurance Group 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.