Great Lakes Advisors LLC Invests $9.40 Million in The Hartford Insurance Group, Inc. $HIG

Great Lakes Advisors LLC bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 70,964 shares of the insurance provider’s stock, valued at approximately $9,404,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. First Pacific Financial acquired a new position in The Hartford Insurance Group during the first quarter worth about $26,000. MidFirst Bank acquired a new stake in The Hartford Insurance Group in the 2nd quarter valued at about $26,000. JPL Wealth Management LLC purchased a new position in The Hartford Insurance Group in the 3rd quarter worth approximately $26,000. Navigoe LLC acquired a new position in shares of The Hartford Insurance Group during the 2nd quarter worth approximately $27,000. Finally, Phillip James Consulting Co. acquired a new position in shares of The Hartford Insurance Group during the 1st quarter worth approximately $29,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business’s 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 $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 Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Trading Up 1.6%

HIG opened at $138.89 on Wednesday. The Hartford Insurance Group, Inc. has a one year low of $120.33 and a one year high of $146.07. The stock has a market capitalization of $37.62 billion, a PE ratio of 8.98, a P/E/G ratio of 3.39 and a beta of 0.46. The business’s 50 day moving average price is $137.08 and its 200 day moving average price is $136.59. 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 Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.26. The company had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.41 earnings per share. As a group, equities research analysts expect that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Cantor Fitzgerald upped their target price on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Mizuho raised their target price on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Royal Bank Of Canada lifted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Finally, Barclays lowered their price target on shares of 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. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.