Emerald Investment Advisers LLC Invests $8.42 Million in The Hartford Insurance Group, Inc. $HIG

Emerald Investment Advisers LLC purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 63,558 shares of the insurance provider’s stock, valued at approximately $8,423,000.

A number of other hedge funds have also modified their holdings of the company. First Pacific Financial bought a new stake in The Hartford Insurance Group in the first quarter valued at approximately $26,000. MidFirst Bank bought a new position in shares of The Hartford Insurance Group during the second quarter worth $26,000. JPL Wealth Management LLC bought a new position in shares of The Hartford Insurance Group during the third quarter worth $26,000. Navigoe LLC acquired a new position in shares of The Hartford Insurance Group in the 2nd quarter valued at $27,000. Finally, Phillip James Consulting Co. acquired a new position in shares of The Hartford Insurance Group in the 1st quarter valued at $29,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $136.30 on Friday. The firm has a market cap of $36.92 billion, a PE ratio of 8.81, a PEG ratio of 3.37 and a beta of 0.46. 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 Hartford Insurance Group, Inc. has a 1-year low of $120.33 and a 1-year high of $146.07. The company has a fifty day moving average price of $137.56 and a 200 day moving average price of $136.64.

The Hartford Insurance Group (NYSE:HIG) last released 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 firm 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 company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $3.41 EPS. Research 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. Investors of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 15.51%.

Insider Transactions at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value 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 trade represents a 18.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. UBS Group dropped their price objective on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. increased their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Zacks Research lowered The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Finally, Piper Sandler reiterated a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $149.67.

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.