The Hartford Insurance Group, Inc. $HIG Shares Bought by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its position in The Hartford Insurance Group by 7.8% during the 2nd quarter, owning about 145,733 shares valued at approximately $18.49 million.
• Insider trading activity included CFO Beth Ann Costello selling 35,340 shares valued at $4.36 million, reducing her ownership by 31.30%.
• Wall Street analysts have given mixed ratings on the stock, with a consensus rating of "Hold" and an average target price of $137.93, despite some analysts raising their price targets.

Janney Montgomery Scott LLC increased its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 7.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,733 shares of the insurance provider's stock after buying an additional 10,527 shares during the quarter. Janney Montgomery Scott LLC owned about 0.05% of The Hartford Insurance Group worth $18,489,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of the company's stock in a transaction that occurred on 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 owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HIG shares. Morgan Stanley boosted their target price on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Wall Street Zen lowered The Hartford Insurance Group from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Piper Sandler upped their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Raymond James Financial reissued an "outperform" rating and set a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Finally, Wolfe Research began coverage on The Hartford Insurance Group in a research report on Tuesday, September 16th. They set a "peer perform" rating on the stock. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $137.93.

The Hartford Insurance Group Trading Up 0.0%

Shares of NYSE HIG opened at $132.94 on Friday. The stock has a market cap of $37.38 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.29 and a beta of 0.69. The business has a 50 day simple moving average of $130.45 and a 200 day simple moving average of $125.83. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $135.17. 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 Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period in the previous year, the company earned $2.50 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

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