Savvy Advisors Inc. Invests $262,000 in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Savvy Advisors Inc. has acquired 2,114 shares of The Hartford Insurance Group, valued at approximately $262,000, as noted in its SEC disclosure.
• The Hartford Insurance Group reported a quarterly earnings per share of $3.41, significantly beating analyst expectations of $2.83.
• The company declared a quarterly dividend of $0.52 per share, with a yield of 1.6%, to be paid on October 2nd to investors of record.

Savvy Advisors Inc. acquired a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,114 shares of the insurance provider's stock, valued at approximately $262,000.

Other large investors also recently modified their holdings of the company. Park Square Financial Group LLC raised its holdings 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 worth $32,000 after purchasing an additional 155 shares during the period. Center for Financial Planning Inc. purchased a new position in shares of The Hartford Insurance Group in the 1st quarter worth about $33,000. Meeder Asset Management Inc. raised its holdings in shares of The Hartford Insurance Group by 123.8% in the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after purchasing an additional 161 shares during the period. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Insurance Group in the 4th quarter worth about $33,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of The Hartford Insurance Group in the 1st quarter worth about $37,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of the business's stock in a transaction on 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 sale, the chief financial officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.50% of the company's stock.

The Hartford Insurance Group Stock Performance

NYSE:HIG traded down $0.09 during midday trading on Friday, reaching $131.25. 334,469 shares of the company traded hands, compared to its average volume of 1,643,192. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $132.09. The firm has a market capitalization of $36.90 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 1.28 and a beta of 0.67. 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 has a fifty day moving average price of $124.91 and a 200 day moving average price of $121.64.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion for 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 firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.50 EPS. On average, analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be paid 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 of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is currently 18.86%.

Analysts Set New Price Targets

HIG has been the topic of several analyst reports. Raymond James Financial reiterated an "outperform" rating and set a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Wells Fargo & Company raised their target price 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. Citigroup initiated coverage on The Hartford Insurance Group in a report on Wednesday. They set a "neutral" rating and a $138.00 target price on the stock. UBS Group raised their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. lifted their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, The Hartford Insurance Group presently has a consensus rating of "Moderate Buy" and an average price target of $137.64.

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.