Denali Advisors LLC Buys Shares of 4,507 The Hartford Insurance Group, Inc. $HIG

Denali Advisors LLC purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,507 shares of the insurance provider’s stock, valued at approximately $597,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in 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 worth $10,178,152,000 after acquiring an additional 73,835,976 shares in the last quarter. BlackRock Inc. acquired a new position in The Hartford Insurance Group in the 2nd quarter valued at about $4,067,052,000. Norges Bank acquired a new position in The Hartford Insurance Group in the 4th quarter valued at about $611,724,000. Bank of New York Mellon Corp purchased a new stake in The Hartford Insurance Group during the second quarter worth about $337,907,000. Finally, Deutsche Bank AG purchased a new stake in The Hartford Insurance Group during the second quarter worth about $145,575,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction on 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 completion of the transaction, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on HIG shares. Weiss Ratings cut shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Barclays dropped their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Zacks Research downgraded shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Cantor Fitzgerald increased their target price on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Royal Bank Of Canada raised their price target 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, July 27th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Hold” and an average target price of $149.67.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $137.17 on Friday. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $146.07. The stock has a market capitalization of $37.16 billion, a PE ratio of 8.87, a PEG ratio of 3.38 and a beta of 0.46. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50-day simple moving average of $137.43 and a 200-day simple moving average of $136.64.

The Hartford Insurance Group (NYSE:HIG) last released its 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 Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the firm earned $3.41 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that The Hartford Insurance Group, Inc. will post 12.8 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. Stockholders of record on Tuesday, September 1st will be issued 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 (DPR) is presently 15.51%.

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.