Lbp Am Sa Buys Shares of 88,464 The Hartford Insurance Group, Inc. $HIG

Lbp Am Sa acquired a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the 2nd quarter, HoldingsChannel reports. The fund acquired 88,464 shares of the insurance provider’s stock, valued at approximately $11,223,000.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its holdings in shares of The Hartford Insurance Group by 167.8% in the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 198 shares in the last quarter. Sharp Financial Services LLC bought a new stake in shares of The Hartford Insurance Group during the 1st quarter worth $260,000. Oppenheimer & Co. Inc. raised its stake in shares of The Hartford Insurance Group by 86.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider’s stock worth $533,000 after purchasing an additional 2,000 shares during the period. Concurrent Investment Advisors LLC bought a new stake in shares of The Hartford Insurance Group during the 1st quarter worth $233,000. Finally, Aurora Investment Counsel bought a new stake in shares of The Hartford Insurance Group during the 1st quarter worth $2,434,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on HIG. Wall Street Zen lowered The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Morgan Stanley boosted their price objective on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Piper Sandler boosted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Keefe, Bruyette & Woods boosted their target price on The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Finally, Cantor Fitzgerald initiated coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Hold” and an average price target of $138.00.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $133.36 on Wednesday. The stock has a market cap of $37.50 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.28 and a beta of 0.72. The business’s fifty day moving average is $130.05 and its 200 day moving average is $125.69. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.58. The company had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.50 earnings per share. Research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group’s dividend payout ratio is currently 18.86%.

Insiders Place Their Bets

In other news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the sale, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.