WBI Investments LLC Buys Shares of 21,855 The Hartford Insurance Group, Inc. $HIG

Key Points

• WBI Investments LLC acquired a new stake in The Hartford Insurance Group by purchasing 21,855 shares, valued at approximately $2.7 million, in the first quarter.
• The Hartford reported $3.41 earnings per share for the recent quarter, exceeding estimates by $0.58, with a year-over-year revenue growth of 7.7%.
• The company declared a quarterly dividend of $0.52 per share, yielding 1.6%, with a payout ratio currently at 18.86%.

WBI Investments LLC bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,855 shares of the insurance provider's stock, valued at approximately $2,704,000.

A number of other institutional investors and hedge funds have also bought and sold shares of HIG. Park Square Financial Group LLC raised its position in The Hartford Insurance Group by 146.2% during the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 155 shares in the last quarter. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Insurance Group in the 4th quarter valued at $33,000. Center for Financial Planning Inc. purchased a new position in shares of The Hartford Insurance Group in the 1st quarter valued at $33,000. Meeder Asset Management Inc. increased its holdings in shares of The Hartford Insurance Group by 123.8% in the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 161 shares during the period. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of The Hartford Insurance Group in the 1st quarter valued at $37,000. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Stock Up 0.2%

Shares of HIG stock opened at $131.13 on Thursday. The Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $135.17. The stock's fifty day moving average price is $127.41 and its 200 day moving average price is $124.22. 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 company has a market cap of $36.87 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the previous year, the business earned $2.50 EPS. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts expect 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 declared 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. This represents a $2.08 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is presently 18.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on HIG shares. Wells Fargo & Company lifted their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Morgan Stanley lifted their price target on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Piper Sandler lifted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Wall Street Zen downgraded The Hartford Insurance Group from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Finally, Citigroup initiated coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $138.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $138.00.

Insider Activity

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the business's 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 sale, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. The trade was a 31.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of the business's stock in a transaction dated Friday, September 5th. The shares were 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 currently owned by insiders.

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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