FourThought Financial Partners LLC Buys Shares of 1,828 The Hartford Insurance Group, Inc. $HIG

by · The Markets Daily

FourThought Financial Partners LLC purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) in the 2nd quarter, Holdings Channel reports. The firm purchased 1,828 shares of the insurance provider’s stock, valued at approximately $232,000.

Other institutional investors have also made changes to their positions in the company. Private Wealth Management Group LLC boosted its holdings in The Hartford Insurance Group by 151.1% during the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 133 shares during the last quarter. Meeder Asset Management Inc. grew 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 in the last quarter. Signature Resources Capital Management LLC bought a new stake in The Hartford Insurance Group during the second quarter worth about $38,000. Addison Advisors LLC grew its stake in The Hartford Insurance Group by 129.3% in the second quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 181 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in shares of The Hartford Insurance Group during the 2nd quarter worth approximately $44,000. Institutional investors own 93.42% of the company’s stock.

Insider Activity

In related news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through this link. Also, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the sale, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $137.55 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.32. The firm has a market cap of $38.33 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $138.64. The firm’s 50-day simple moving average is $129.92 and its 200 day simple moving average is $128.45.

The Hartford Insurance Group (NYSE:HIG – Get Free Report) last announced its earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping the consensus estimate of $3.02 by $0.76. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $2.53 earnings per share. As a group, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, December 1st. The Hartford Insurance Group’s payout ratio is presently 19.61%.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of recent analyst reports. Raymond James Financial restated an “outperform” rating and set a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Wells Fargo & Company lowered their price target on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Morgan Stanley raised their price objective on The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Royal Bank Of Canada initiated coverage on The Hartford Insurance Group in a report on Tuesday. They set a “sector perform” rating and a $145.00 target price on the stock. Finally, Argus raised their price target on The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and a consensus target price of $143.13.

Check Out Our Latest Stock Analysis on The Hartford Insurance Group

About The Hartford Insurance Group

(Free Report)

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.

Featured Articles

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).