4,085 Shares in The Hartford Insurance Group, Inc. $HIG Acquired by MJP Associates Inc. ADV

MJP Associates Inc. ADV acquired a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,085 shares of the insurance provider’s stock, valued at approximately $541,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after acquiring an additional 73,835,976 shares during the last quarter. BlackRock Inc. acquired a new stake in The Hartford Insurance Group during the second quarter worth about $4,067,052,000. Norges Bank acquired a new stake in The Hartford Insurance Group during the fourth quarter worth about $611,724,000. Bank of New York Mellon Corp purchased a new position in The Hartford Insurance Group during the second quarter worth about $337,907,000. Finally, Deutsche Bank AG purchased a new position in The Hartford Insurance Group during the second quarter worth about $145,575,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HIG. Weiss Ratings cut shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. UBS Group reduced their price target on shares of 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. Wells Fargo & Company decreased their price objective on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, July 27th. Keefe, Bruyette & Woods increased their price objective on The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group presently has an average rating of “Hold” and an average target price of $149.67.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $137.17 on Friday. The firm’s fifty day simple moving average is $137.43 and its 200-day simple moving average is $136.64. The stock has a market capitalization of $37.16 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 3.38 and a beta of 0.46. The Hartford Insurance Group, Inc. has a 12 month low of $120.33 and a 12 month high of $146.07. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.41 EPS. As a group, equities 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 firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis 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%.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the transaction, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

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.