Quarry LP Boosts Stock Position in The Hartford Insurance Group, Inc. $HIG

Quarry LP grew its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 430.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,459 shares of the insurance provider’s stock after purchasing an additional 3,618 shares during the period. Quarry LP’s holdings in The Hartford Insurance Group were worth $552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. NorthRock Partners LLC grew its position in The Hartford Insurance Group by 2.6% in the first quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider’s stock worth $395,000 after acquiring an additional 80 shares during the period. Wayfinding Financial LLC grew its position in The Hartford Insurance Group by 3.0% in the first quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider’s stock worth $355,000 after acquiring an additional 84 shares during the period. Wealthspire Advisors LLC grew its position in The Hartford Insurance Group by 3.2% in the first quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider’s stock worth $356,000 after acquiring an additional 88 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in The Hartford Insurance Group by 1.7% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 5,580 shares of the insurance provider’s stock worth $690,000 after acquiring an additional 95 shares during the period. Finally, HighPoint Advisor Group LLC grew its position in The Hartford Insurance Group by 4.1% in the first quarter. HighPoint Advisor Group LLC now owns 2,447 shares of the insurance provider’s stock worth $299,000 after acquiring an additional 96 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the firm’s 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 sale, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

The Hartford Insurance Group Stock Up 0.1%

Shares of NYSE HIG opened at $132.31 on Friday. The stock has a market cap of $37.20 billion, a P/E ratio of 12.00, a PEG ratio of 1.28 and a beta of 0.67. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $134.93. The business’s fifty day simple moving average is $126.37 and its 200-day simple moving average is $123.21.

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

The Hartford Insurance Group Dividend Announcement

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

Analysts Set New Price Targets

HIG has been the subject of several research analyst reports. Morgan Stanley raised their price target on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Citigroup initiated coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price target for the company. JPMorgan Chase & Co. raised their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Raymond James Financial restated an “outperform” rating and set a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Finally, Cantor Fitzgerald began coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.64.

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.