Shell Asset Management Co. Buys 11,732 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Shell Asset Management Co. increased its holdings in The Hartford Insurance Group by 26.1% in Q2, acquiring an additional 11,732 shares worth approximately $7.2 million.
• The Hartford Insurance Group reported $3.41 EPS for the last quarter, exceeding analysts’ expectations of $2.83, with a revenue of $6.99 billion.
• A recent quarterly dividend of $0.52 per share was announced, translating to an annualized yield of 1.6% and a payout ratio of 18.86%.

Shell Asset Management Co. increased its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 26.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,755 shares of the insurance provider's stock after acquiring an additional 11,732 shares during the quarter. Shell Asset Management Co.'s holdings in The Hartford Insurance Group were worth $7,201,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. NorthRock Partners LLC lifted its holdings in shares of The Hartford Insurance Group by 2.6% during the first quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider's stock valued at $395,000 after purchasing an additional 80 shares during the last quarter. Wayfinding Financial LLC increased its position in The Hartford Insurance Group by 3.0% during the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider's stock valued at $355,000 after buying an additional 84 shares in the last quarter. Wealthspire Advisors LLC increased its position in The Hartford Insurance Group by 3.2% during the 1st quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider's stock valued at $356,000 after buying an additional 88 shares in the last quarter. BayBridge Capital Group LLC raised its stake in The Hartford Insurance Group by 2.4% during the second quarter. BayBridge Capital Group LLC now owns 3,776 shares of the insurance provider's stock valued at $479,000 after buying an additional 89 shares during the last quarter. Finally, GSB Wealth Management LLC boosted its holdings in The Hartford Insurance Group by 2.4% in the second quarter. GSB Wealth Management LLC now owns 3,849 shares of the insurance provider's stock worth $488,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 93.42% of the company's stock.

Insider Activity at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,340 shares of the firm'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 transaction, the chief financial officer directly owned 77,574 shares of the company's stock, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

The Hartford Insurance Group Stock Down 0.7%

The Hartford Insurance Group stock opened at $132.50 on Tuesday. The stock has a market cap of $37.26 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a fifty day moving average of $130.88 and a 200 day moving average of $126.11. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results 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 business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the previous year, the company posted $2.50 EPS. The business's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is currently 18.86%.

Analyst Ratings Changes

HIG has been the subject of several analyst reports. UBS Group raised their price target 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. Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Friday. Evercore ISI lifted their target price on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an "in-line" rating in a report on Wednesday, October 1st. Wolfe Research started coverage on The Hartford Insurance Group in a research report on Tuesday, September 16th. They issued a "peer perform" rating on the stock. Finally, Raymond James Financial reissued an "outperform" rating and issued a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and an average target price of $137.93.

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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