Trivium Point Advisory LLC Buys New Shares in The Hartford Insurance Group, Inc. $HIG

Key Points

• Trivium Point Advisory initiated a position in The Hartford Insurance Group, purchasing 10,394 shares valued at approximately $1.38 million. Institutional investors collectively own 93.42% of HIG.
• The Hartford exceeded quarterly expectations, reporting $3.42 EPS versus the $3.16 consensus estimate and revenue of $7.26 billion, up 8.1% year over year.
• The company declared a quarterly dividend of $0.60 per share, or $2.40 annualized, representing a 1.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $149.67.

Trivium Point Advisory LLC bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 10,394 shares of the insurance provider's stock, valued at approximately $1,377,000.

Several other hedge funds have also added to or reduced their stakes in HIG. Y Intercept Hong Kong Ltd purchased a new position in shares of The Hartford Insurance Group during the first quarter valued at approximately $4,131,000. Abacus Wealth Partners LLC purchased a new position in shares of The Hartford Insurance Group in the 4th quarter worth about $1,971,000. Strs Ohio boosted its stake in The Hartford Insurance Group by 4.7% in the 1st quarter. Strs Ohio now owns 199,619 shares of the insurance provider's stock worth $26,994,000 after purchasing an additional 8,890 shares in the last quarter. Arbejdsmarkedets Tillaegspension boosted its stake in The Hartford Insurance Group by 4.6% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider's stock worth $25,303,000 after purchasing an additional 8,250 shares in the last quarter. Finally, SEB Asset Management AB purchased a new stake in The Hartford Insurance Group during the 1st quarter valued at about $69,310,000. 93.42% of the stock is owned by institutional investors.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.

The Hartford Insurance Group Stock Up 0.0%

HIG opened at $138.02 on Monday. The stock has a market capitalization of $37.39 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 3.39 and a beta of 0.46. The firm has a 50 day moving average price of $136.70 and a 200-day moving average price of $136.48. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company had revenue of $7.26 billion for the quarter, compared to analysts' expectations of $7.17 billion. During the same quarter last year, the company posted $3.41 earnings per share. The firm's quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group's dividend payout ratio is presently 15.51%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HIG. JPMorgan Chase & Co. lifted their target price on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Barclays reduced their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating for the company in a research report on Friday, June 12th. UBS Group lowered their price objective on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, April 27th. Keefe, Bruyette & Woods increased their target price on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a "market perform" rating in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company reduced their target price on The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $149.67.

About The Hartford Insurance Group

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source