Cetera Investment Advisers Acquires 9,041 Shares of The Hartford Insurance Group, Inc. $HIG

Cetera Investment Advisers grew its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 12.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,441 shares of the insurance provider’s stock after purchasing an additional 9,041 shares during the period. Cetera Investment Advisers’ holdings in The Hartford Insurance Group were worth $11,284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC increased its stake in The Hartford Insurance Group by 18.0% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 5,802 shares of the insurance provider’s stock worth $785,000 after acquiring an additional 887 shares during the period. First Citizens Bank & Trust Co. raised its holdings in The Hartford Insurance Group by 5.9% in the 1st quarter. First Citizens Bank & Trust Co. now owns 29,156 shares of the insurance provider’s stock valued at $3,943,000 after acquiring an additional 1,621 shares in the last quarter. CI Investments Inc. lifted its position in shares of The Hartford Insurance Group by 12.6% during the 1st quarter. CI Investments Inc. now owns 2,941 shares of the insurance provider’s stock valued at $398,000 after acquiring an additional 328 shares during the period. First Trust Advisors LP grew its holdings in shares of The Hartford Insurance Group by 5.8% during the 1st quarter. First Trust Advisors LP now owns 3,461,607 shares of the insurance provider’s stock worth $468,113,000 after purchasing an additional 189,916 shares in the last quarter. Finally, Phillip James Consulting Co. acquired a new stake in shares of The Hartford Insurance Group during the 1st quarter worth $29,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Down 1.9%

HIG stock opened at $142.95 on Friday. The firm has a 50-day moving average price of $134.40 and a 200-day moving average price of $135.67. 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 current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $38.72 billion, a P/E ratio of 9.24, a price-to-earnings-growth ratio of 3.95 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $0.26. The company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.41 EPS. As a group, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.77 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid 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 is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is presently 15.51%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HIG. Cantor Fitzgerald boosted their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. 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 raised their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Royal Bank Of Canada boosted their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Monday. Finally, UBS Group cut their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a report on Monday, April 27th. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $149.06.

Insider Activity at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction 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 sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.