SHP Wealth Management Takes $551,000 Position in The Hartford Insurance Group, Inc. $HIG

SHP Wealth Management purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 3,997 shares of the insurance provider’s stock, valued at approximately $551,000.

Other institutional investors have also recently added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group in the 3rd quarter worth $26,000. United Financial Planning Group LLC acquired a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at about $29,000. Sunbelt Securities Inc. acquired a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at about $29,000. Barnes Dennig Private Wealth Management LLC grew its holdings in shares of The Hartford Insurance Group by 144.8% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 152 shares during the period. Finally, Sound Income Strategies LLC grew its holdings in shares of The Hartford Insurance Group by 45.3% in the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 87 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Transactions at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

HIG has been the topic of a number of analyst reports. Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Bank of America increased their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Cantor Fitzgerald cut their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Wells Fargo & Company reduced their price target on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. Finally, Piper Sandler decreased their price objective on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a report on Thursday, June 11th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.31.

The Hartford Insurance Group Stock Up 0.0%

NYSE:HIG opened at $128.26 on Friday. The Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50. The stock’s fifty day moving average is $133.61 and its two-hundred day moving average is $135.40. The stock has a market capitalization of $35.16 billion, a price-to-earnings ratio of 9.01, a price-to-earnings-growth ratio of 2.33 and a beta of 0.47. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts anticipate that The Hartford Insurance Group, Inc. will post 13.03 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio is 16.87%.

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.