Vestmark Advisory Solutions Inc. Acquires 14,287 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Vestmark Advisory Solutions Inc. significantly increased its stake in The Hartford Insurance Group by 286.3%, acquiring an additional 14,287 shares, bringing their total to 19,278 shares valued at approximately $2.39 million.
• The Hartford Insurance Group recently reported $3.41 EPS for the quarter, surpassing analysts' estimates, and announced a quarterly dividend of $0.52 per share set to be paid on October 2nd.
• Analysts have provided a consensus rating of "Moderate Buy" for the stock, with an average target price of $137.64, showing positive sentiment towards its future performance.

Vestmark Advisory Solutions Inc. boosted its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 286.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,278 shares of the insurance provider's stock after buying an additional 14,287 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in The Hartford Insurance Group were worth $2,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. NorthRock Partners LLC boosted its stake in The Hartford Insurance Group by 2.6% during the 1st quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider's stock valued at $395,000 after acquiring an additional 80 shares during the last quarter. Wayfinding Financial LLC lifted its position in shares of The Hartford Insurance Group by 3.0% in the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider's stock worth $355,000 after buying an additional 84 shares during the last quarter. Wealthspire Advisors LLC lifted its position in shares of The Hartford Insurance Group by 3.2% in the 1st quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider's stock worth $356,000 after buying an additional 88 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of The Hartford Insurance Group by 1.7% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 5,580 shares of the insurance provider's stock worth $690,000 after buying an additional 95 shares during the last quarter. Finally, HighPoint Advisor Group LLC lifted its position in The Hartford Insurance Group by 4.1% in the 1st quarter. HighPoint Advisor Group LLC now owns 2,447 shares of the insurance provider's stock valued at $299,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Trading Down 0.2%

Shares of The Hartford Insurance Group stock traded down $0.2750 on Thursday, reaching $133.6950. 253,207 shares of the company's stock were exchanged, compared to its average volume of 1,641,777. The company has a market capitalization of $37.59 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 1.28 and a beta of 0.67. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $134.12. The firm's 50-day moving average is $125.32 and its two-hundred day moving average is $122.15. 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 issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period in the prior year, the firm earned $2.50 earnings per share. The Hartford Insurance Group's revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be paid a $0.52 dividend. 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 (DPR) is currently 18.86%.

Analysts Set New Price Targets

Several brokerages recently weighed in on HIG. Keefe, Bruyette & Woods lifted their price objective on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Barclays reduced their target price 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. Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. UBS Group raised their price target on shares of 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. Finally, Cantor Fitzgerald initiated coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an "overweight" rating and a $152.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, The Hartford Insurance Group presently has an average rating of "Moderate Buy" and a consensus target price of $137.64.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer owned 77,574 shares of the company's stock, valued at $9,580,389. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is currently owned by insiders.

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.