The Hartford Insurance Group, Inc. $HIG Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 6.2% in the first quarter, Holdings Channel reports. The fund owned 408,818 shares of the insurance provider’s stock after buying an additional 23,730 shares during the quarter. NewEdge Advisors LLC’s holdings in The Hartford Insurance Group were worth $55,285,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of HIG. First Pacific Financial purchased a new stake in shares of The Hartford Insurance Group during the first quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new position in shares of The Hartford Insurance Group in the third quarter valued at $26,000. Phillip James Consulting Co. acquired a new stake in The Hartford Insurance Group during the 1st quarter valued at $29,000. Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group during the 3rd quarter valued at $29,000. Finally, Sound Income Strategies LLC increased its stake in The Hartford Insurance Group by 45.3% during the 4th quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock worth $36,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Trading Up 0.5%

Shares of NYSE HIG opened at $144.32 on Friday. The stock’s 50 day moving average price is $135.32 and its two-hundred day moving average price is $136.06. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07. The stock has a market capitalization of $39.09 billion, a P/E ratio of 9.33, a PEG ratio of 3.52 and a beta of 0.46. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The Hartford Insurance Group’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.41 EPS. On average, analysts anticipate that The Hartford Insurance Group, Inc. will post 12.84 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 15.51%.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on HIG. Mizuho boosted their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods raised their target price on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Barclays dropped their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Zacks Research cut The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. increased their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Hold” and a consensus target price of $149.67.

The Hartford Insurance Group Company Profile

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.