Thurston Springer Miller Herd & Titak Inc. Grows Stake in The Hartford Insurance Group, Inc. $HIG

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its stake in The Hartford Insurance Group by 1,971.8% during the second quarter, owning 4,993 shares valued at $633,000.
• The Hartford reported $3.41 EPS for the quarter, exceeding analysts' expectations of $2.83, while its revenue was $6.99 billion, slightly below the anticipated $7.02 billion.
• In upcoming dividend news, The Hartford will pay a quarterly dividend of $0.52 per share on October 2nd, with a current yield of 1.6%.

Thurston Springer Miller Herd & Titak Inc. boosted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 1,971.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,993 shares of the insurance provider's stock after purchasing an additional 4,752 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in The Hartford Insurance Group were worth $633,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HIG. Northern Trust Corp boosted its holdings in shares of 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 buying an additional 398,950 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in The Hartford Insurance Group by 6.5% in the fourth 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 grew its holdings in shares of The Hartford Insurance Group by 1.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider's stock worth $434,181,000 after purchasing an additional 60,116 shares during the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of The Hartford Insurance Group by 47.0% during the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock worth $264,972,000 after purchasing an additional 684,390 shares during the last quarter. Finally, Amundi lifted its holdings in shares of The Hartford Insurance Group by 27.4% in the 1st quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock valued at $239,905,000 after purchasing an additional 417,951 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Stock Down 0.5%

HIG opened at $132.52 on Monday. The stock has a market capitalization of $37.26 billion, a P/E ratio of 12.01, a P/E/G 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 $135.17. The business has a 50 day simple moving average of $127.74 and a 200-day simple moving average of $124.58. 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 (NYSE:HIG - Get Free Report) last announced 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 net margin of 11.83% and a return on equity of 19.60%. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter last year, the firm posted $2.50 EPS. The business's revenue was up 7.7% compared to the same quarter last year. On average, equities 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 18.86%.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction 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 trade represents a 31.30% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HIG. UBS Group raised their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research note 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 report on Saturday. Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Piper Sandler increased their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Finally, Barclays dropped their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $138.00.

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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