MJP Associates Inc. ADV Acquires New Position in The Hartford Insurance Group, Inc. $HIG

MJP Associates Inc. ADV acquired a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 4,085 shares of the insurance provider’s stock, valued at approximately $541,000.

Several other hedge funds also recently made changes to their positions in the company. Trillium Asset Management LLC bought a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at approximately $287,000. Vise Technologies Inc. acquired a new stake in shares of The Hartford Insurance Group during the 2nd quarter valued at approximately $10,290,000. Aurora Investment Counsel bought a new position in The Hartford Insurance Group during the second quarter worth $2,115,000. Edmond DE Rothschild Holding S.A. bought a new position in The Hartford Insurance Group during the second quarter worth $505,000. Finally, Csenge Advisory Group acquired a new position in The Hartford Insurance Group in the second quarter worth $264,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Buying and Selling

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the company’s 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 owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.

Wall Street Analyst Weigh In

Several research firms have weighed in on HIG. Mizuho boosted their target price on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Piper Sandler restated a “neutral” rating and issued a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. UBS Group decreased their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a report on Monday, April 27th. Zacks Research lowered shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Finally, Wells Fargo & Company cut their target price on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $149.67.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $137.17 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $37.16 billion, a PE ratio of 8.87, a P/E/G ratio of 3.38 and a beta of 0.46. The Hartford Insurance Group, Inc. has a 1-year low of $120.33 and a 1-year high of $146.07. The business’s fifty day moving average price is $137.43 and its two-hundred day moving average price is $136.64.

The Hartford Insurance Group (NYSE:HIG) last announced 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 company 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 company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.41 earnings per share. On average, research analysts expect that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be paid 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 presently 15.51%.

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.