Sharp Financial Services LLC Invests $260,000 in The Hartford Insurance Group, Inc. (NYSE:HIG)

Sharp Financial Services LLC bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,103 shares of the insurance provider's stock, valued at approximately $260,000.

Several other institutional investors and hedge funds also recently modified their holdings of HIG. Norges Bank purchased a new stake in shares of The Hartford Insurance Group in the fourth quarter worth about $416,340,000. GAMMA Investing LLC boosted its position in shares of The Hartford Insurance Group by 14,049.5% in the first quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock worth $1,761,930,000 after buying an additional 1,413,945 shares during the period. Ameriprise Financial Inc. boosted its position in shares of The Hartford Insurance Group by 48.1% in the fourth quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock worth $247,761,000 after buying an additional 735,170 shares during the period. Proficio Capital Partners LLC boosted its position in shares of The Hartford Insurance Group by 11,904.7% in the fourth quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider's stock worth $632,000 after buying an additional 626,304 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of The Hartford Insurance Group in the fourth quarter worth about $65,256,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Trading Up 1.5%

Shares of NYSE HIG opened at $124.71 on Friday. The stock's 50 day moving average price is $126.90 and its two-hundred day moving average price is $118.75. The Hartford Insurance Group, Inc. has a 52-week low of $98.16 and a 52-week high of $132.09. The stock has a market capitalization of $35.43 billion, a P/E ratio of 12.43, a PEG ratio of 1.21 and a beta of 0.69. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.26.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. The Hartford Insurance Group had a return on equity of 18.73% and a net margin of 11.10%. The firm had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same quarter in the prior year, the firm posted $2.34 earnings per share. The Hartford Insurance Group's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts anticipate 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 business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Monday, June 2nd. The Hartford Insurance Group's payout ratio is 20.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Raymond James Financial upped their target price on The Hartford Insurance Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Piper Sandler boosted their price target on The Hartford Insurance Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. Wells Fargo & Company cut their price target on The Hartford Insurance Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Keefe, Bruyette & Woods cut their price target on The Hartford Insurance Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group cut their price target on The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $132.58.

Insider Buying and Selling at The Hartford Insurance Group

In other news, SVP Allison G. Niderno sold 1,086 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $119.42, for a total transaction of $129,690.12. Following the sale, the senior vice president directly owned 622 shares in the company, valued at approximately $74,279.24. This represents a 63.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company's stock.

The Hartford Insurance Group Company 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.

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