Redhawk Wealth Advisors Inc. Grows Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Redhawk Wealth Advisors Inc. increased its ownership of The Hartford Insurance Group by 112.5% during the second quarter, acquiring a total of 17,464 shares worth approximately $2.2 million.
• Analysts have mixed ratings on The Hartford Insurance Group, with seven analysts offering a Buy rating and eight providing a Hold rating, while the consensus price target is $138.00.
• The Hartford Insurance Group declared a quarterly dividend of $0.52 per share, representing an annualized dividend of $2.08 and a yield of 1.6%.

Redhawk Wealth Advisors Inc. raised its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 112.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,464 shares of the insurance provider's stock after acquiring an additional 9,245 shares during the period. Redhawk Wealth Advisors Inc.'s holdings in The Hartford Insurance Group were worth $2,216,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Park Square Financial Group LLC raised its stake in shares of The Hartford Insurance Group by 146.2% during the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Center for Financial Planning Inc. purchased a new stake in The Hartford Insurance Group in the 1st quarter valued at $33,000. Meeder Asset Management Inc. raised its position in The Hartford Insurance Group by 123.8% during the 1st 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 last quarter. Smallwood Wealth Investment Management LLC purchased a new position in The Hartford Insurance Group during the 1st quarter valued at about $37,000. Finally, Golden State Wealth Management LLC boosted its position in shares of The Hartford Insurance Group by 167.8% in the first 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. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HIG has been the subject of several analyst reports. Morgan Stanley boosted their price target on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Wells Fargo & Company raised their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Keefe, Bruyette & Woods lifted their target price on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. UBS Group boosted their price target on 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, Piper Sandler boosted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $138.00.

Insider Buying and Selling

In related news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction on Monday, August 4th. The shares were 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 approximately $9,580,389. This represents a 31.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

The Hartford Insurance Group Price Performance

Shares of HIG stock traded down $0.65 during mid-day trading on Monday, hitting $130.30. 219,080 shares of the stock were exchanged, compared to its average volume of 1,622,890. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $135.17. 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 firm has a fifty day moving average of $128.62 and a 200 day moving average of $125.03. The company has a market cap of $36.64 billion, a PE ratio of 11.81, 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, topping the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The Hartford Insurance Group's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $2.50 EPS. Research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's 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.