Wedge Capital Management L L P NC Has $34.44 Million Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Wedge Capital Management L L P NC raised its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 9.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 259,897 shares of the insurance provider’s stock after purchasing an additional 23,441 shares during the period. Wedge Capital Management L L P NC’s holdings in The Hartford Insurance Group were worth $34,442,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. First Pacific Financial acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $26,000. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group during the 3rd quarter worth approximately $26,000. Phillip James Consulting Co. bought a new position in The Hartford Insurance Group in the first quarter worth approximately $29,000. Sunbelt Securities Inc. bought a new position in The Hartford Insurance Group in the third quarter worth approximately $29,000. Finally, Fideuram Asset Management Ireland dac acquired a new stake in The Hartford Insurance Group in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the company’s 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 sale, the president owned 38,208 shares in the company, valued at $5,163,047.04. This 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. 1.30% of the stock is currently owned by insiders.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $139.09 on Wednesday. The Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $146.07. 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 business has a 50 day moving average price of $136.16 and a 200-day moving average price of $136.31. The company has a market cap of $37.67 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 3.47 and a beta of 0.46.

The Hartford Insurance Group (NYSE:HIG) last announced its 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 Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The company had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the previous year, the firm earned $3.41 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts anticipate that The Hartford Insurance Group, Inc. will post 12.79 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HIG. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Piper Sandler reiterated a “neutral” rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Zacks Research downgraded shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Cantor Fitzgerald raised their price objective on shares of 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. Finally, Mizuho lifted their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. 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 MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of “Hold” and a consensus price target 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.