Uncommon Cents Investing LLC Has $4.60 Million Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Uncommon Cents Investing LLC increased its position in The Hartford Insurance Group to approximately $4.60 million, owning 36,220 shares as of the end of the second quarter.
• The Hartford Insurance Group's recent quarterly earnings report revealed earnings per share (EPS) of $3.41, surpassing estimates, and a revenue of $6.99 billion, though slightly below analyst expectations.
• A quarterly dividend of $0.52 per share will be paid on October 2nd, representing an annual yield of 1.6% with a payout ratio of 18.86%.

Uncommon Cents Investing LLC increased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 8.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,220 shares of the insurance provider's stock after purchasing an additional 2,790 shares during the quarter. The Hartford Insurance Group makes up approximately 1.2% of Uncommon Cents Investing LLC's holdings, making the stock its 22nd biggest holding. Uncommon Cents Investing LLC's holdings in The Hartford Insurance Group were worth $4,595,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Golden State Wealth Management LLC raised its stake in The Hartford Insurance Group by 167.8% during the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock worth $39,000 after acquiring an additional 198 shares in the last quarter. Sharp Financial Services LLC purchased a new position in shares of The Hartford Insurance Group during the 1st quarter valued at about $260,000. Oppenheimer & Co. Inc. increased its stake in shares of The Hartford Insurance Group by 86.7% during the first quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock valued at $533,000 after buying an additional 2,000 shares during the period. Concurrent Investment Advisors LLC bought a new position in shares of The Hartford Insurance Group during the first quarter valued at $233,000. Finally, Aurora Investment Counsel purchased a new stake in The Hartford Insurance Group in the first quarter worth about $2,434,000. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Up 1.1%

Shares of NYSE HIG opened at $133.04 on Friday. 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 stock has a market capitalization of $37.41 billion, a P/E ratio of 12.06, a PEG ratio of 1.29 and a beta of 0.72. The firm's 50 day simple moving average is $129.64 and its two-hundred day simple moving average is $125.48. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) 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 business had revenue of $6.99 billion for the quarter, compared to analysts' expectations of $7.02 billion. During the same period in the prior year, the firm earned $2.50 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a yield of 1.6%. The Hartford Insurance Group's dividend payout ratio is presently 18.86%.

Insiders Place Their Bets

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 transaction of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. This represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on HIG shares. Wall Street Zen cut The Hartford Insurance Group from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Citigroup started coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price objective for the company. Piper Sandler upped their price target on shares of 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. Finally, Keefe, Bruyette & Woods increased their price target on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price 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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.