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

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

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

The Hartford Insurance Group Stock Down 0.3%

Shares of NYSE:HIG opened at $137.17 on Friday. The company has a market cap of $37.16 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 3.38 and a beta of 0.46. The Hartford Insurance Group, Inc. has a fifty-two week low of $120.33 and a fifty-two week high of $146.07. The firm’s 50-day simple moving average is $137.43 and its 200-day simple moving average is $136.64. 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 announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm’s 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 predict that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid 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 is 15.51%.

Insider Buying and Selling

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction dated 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 directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the topic of a number of research reports. Piper Sandler restated a “neutral” rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods lifted their price objective on shares of 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 decreased their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Finally, Zacks Research cut The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.