Foster & Motley Inc. Makes New Investment in The Hartford Insurance Group, Inc. $HIG

Foster & Motley Inc. bought a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 105,292 shares of the insurance provider’s stock, valued at approximately $13,953,000.

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

Wall Street Analyst Weigh In

HIG has been the subject of a number of research analyst reports. Cantor Fitzgerald raised their price objective 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. Keefe, Bruyette & Woods boosted their target price 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. Wells Fargo & Company reduced their target price on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, July 27th. 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 research note on Monday, April 27th. Finally, Weiss Ratings cut shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $149.67.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock 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 business has a fifty day moving average price of $137.08 and a 200-day moving average price of $136.59. 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 $37.62 billion, a P/E ratio of 8.98, a PEG ratio of 3.39 and a beta of 0.46.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The business had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the firm posted $3.41 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be given 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 15.51%.

Insider Buying and Selling

In related news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, 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 legal filing with the Securities & Exchange Commission, 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.

The Hartford Insurance Group 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.