Tectonic Advisors LLC Raises Stake in The Hartford Insurance Group, Inc. $HIG

Tectonic Advisors LLC raised its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,807 shares of the insurance provider’s stock after purchasing an additional 121 shares during the period. Tectonic Advisors LLC’s holdings in The Hartford Insurance Group were worth $610,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in HIG. Park Square Financial Group LLC lifted its holdings in The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 155 shares in the last quarter. Center for Financial Planning Inc. purchased a new position in The Hartford Insurance Group during the first quarter valued at approximately $33,000. Meeder Asset Management Inc. lifted its holdings in The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 161 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in The Hartford Insurance Group during the first quarter valued at approximately $37,000. Finally, Signature Resources Capital Management LLC purchased a new position in The Hartford Insurance Group during the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Trading Down 2.2%

Shares of HIG opened at $130.08 on Friday. The company’s fifty day moving average is $131.34 and its 200 day moving average is $126.27. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.17. The stock has a market capitalization of $36.57 billion, a PE ratio of 11.79, a P/E/G ratio of 1.28 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last announced 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 Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $7.02 billion. During the same quarter in the previous year, the business posted $2.50 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 7.7% on a year-over-year basis. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, September 2nd. The Hartford Insurance Group’s payout ratio is currently 18.86%.

Insider Buying and Selling at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the sale, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on HIG shares. Cantor Fitzgerald started coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley boosted their target price on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Tuesday. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $140.07.

The Hartford Insurance Group Company 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.