Stanley Laman Group Ltd. Has $4.06 Million Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• Stanley Laman Group Ltd. reduced its stake in The Hartford Insurance Group by 6.8%, holding 31,974 shares valued at approximately $4.06 million at the end of the second quarter.
• Institutional investors own an impressive 93.42% of The Hartford Insurance Group's stock, reflecting strong institutional interest in the company.
• The Hartford Insurance Group has reported positive earnings, beating consensus estimates with $3.41 EPS for the quarter, while also announcing a quarterly dividend of $0.52 per share.

Stanley Laman Group Ltd. decreased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,974 shares of the insurance provider's stock after selling 2,320 shares during the period. Stanley Laman Group Ltd.'s holdings in The Hartford Insurance Group were worth $4,057,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Angeles Wealth Management LLC bought a new position in shares of The Hartford Insurance Group in the second quarter worth about $232,000. Riverbend Wealth Management LLC raised its position in The Hartford Insurance Group by 5.2% in the 2nd quarter. Riverbend Wealth Management LLC now owns 2,178 shares of the insurance provider's stock worth $276,000 after purchasing an additional 107 shares during the last quarter. Generali Asset Management SPA SGR lifted its holdings in The Hartford Insurance Group by 21.5% during the 2nd quarter. Generali Asset Management SPA SGR now owns 48,427 shares of the insurance provider's stock worth $6,144,000 after buying an additional 8,567 shares in the last quarter. Ritholtz Wealth Management boosted its position in The Hartford Insurance Group by 4.1% in the 2nd quarter. Ritholtz Wealth Management now owns 70,428 shares of the insurance provider's stock valued at $8,935,000 after buying an additional 2,797 shares during the last quarter. Finally, Harbour Investments Inc. increased its stake in shares of The Hartford Insurance Group by 220.5% in the 2nd quarter. Harbour Investments Inc. now owns 1,346 shares of the insurance provider's stock valued at $171,000 after buying an additional 926 shares during the period. Institutional investors and hedge funds own 93.42% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. JPMorgan Chase & Co. raised their target price on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a "neutral" rating in a research note on Thursday, October 9th. Cantor Fitzgerald assumed coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an "overweight" rating and a $152.00 price target for the company. Wells Fargo & Company increased their price objective on shares of The Hartford Insurance Group from $139.00 to $147.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Finally, Citigroup started coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, The Hartford Insurance Group currently has an average rating of "Moderate Buy" and an average target price of $140.07.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the 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 sale, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was 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. 1.50% of the stock is currently owned by insiders.

The Hartford Insurance Group Stock Up 0.3%

The Hartford Insurance Group stock opened at $124.37 on Friday. The firm has a market capitalization of $34.97 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.20 and a beta of 0.69. The company's 50 day simple moving average is $131.43 and its 200 day simple moving average is $126.47. 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 Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.17.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 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 net margin of 11.83% and a return on equity of 19.60%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 earnings per share. As a group, sell-side 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 was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $2.08 annualized dividend and a yield of 1.7%. The Hartford Insurance Group's payout ratio is currently 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.

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