The Hartford Insurance Group, Inc. $HIG is New Vernon Investment Management LLC's 2nd Largest Position

Key Points

• New Vernon Investment Management LLC significantly increased its holdings in The Hartford Insurance Group by 1,685.7%, making it the fund's second-largest holding with shares valued at approximately $5.5 million.
• CFO Beth Ann Costello sold 35,340 shares at an average price of $123.50, resulting in a 31.30% decrease in her position, which now totals 77,574 shares valued at about $9.5 million.
• The Hartford Insurance Group reported strong earnings, with $3.41 per share for the quarter, exceeding expectations and reflecting a 7.7% year-over-year revenue growth.

New Vernon Investment Management LLC increased its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 1,685.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,643 shares of the insurance provider's stock after buying an additional 42,143 shares during the period. The Hartford Insurance Group accounts for about 7.4% of New Vernon Investment Management LLC's holdings, making the stock its 2nd largest holding. New Vernon Investment Management LLC's holdings in The Hartford Insurance Group were worth $5,524,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp lifted its position in The Hartford Insurance Group by 11.3% in the 1st quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider's stock valued at $487,077,000 after acquiring an additional 398,950 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in The Hartford Insurance Group by 6.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider's stock valued at $419,053,000 after acquiring an additional 234,320 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in The Hartford Insurance Group by 1.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider's stock valued at $434,181,000 after acquiring an additional 60,116 shares in the last quarter. Ameriprise Financial Inc. lifted its position in The Hartford Insurance Group by 48.1% in the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock valued at $247,761,000 after acquiring an additional 735,170 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in The Hartford Insurance Group by 47.0% in the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock valued at $264,972,000 after acquiring an additional 684,390 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

Insider Activity at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of the company'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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.60% of the stock is owned by company insiders.

The Hartford Insurance Group Stock Performance

Shares of NYSE:HIG traded up $1.10 during midday trading on Wednesday, hitting $133.01. The company had a trading volume of 1,220,273 shares, compared to its average volume of 1,625,239. 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 market cap of $37.40 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.28 and a beta of 0.72. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $134.93. The company has a fifty day moving average of $126.57 and a two-hundred day moving average of $123.49.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The Hartford Insurance Group's revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.50 EPS. On average, equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is 18.86%.

Analyst Ratings Changes

Several equities analysts recently issued reports on HIG shares. Cantor Fitzgerald began coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 price objective on the stock. Piper Sandler increased their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Wall Street Zen raised The Hartford Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods increased their price target on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, The Hartford Insurance Group presently has an average rating of "Moderate Buy" and an average price target of $138.00.

About The Hartford Insurance Group

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.