WBI Investments LLC Takes Position in The Hartford Insurance Group, Inc. $HIG

WBI Investments LLC acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 21,855 shares of the insurance provider’s stock, valued at approximately $2,704,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Geneos Wealth Management Inc. lifted its holdings in shares of The Hartford Insurance Group by 7.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,001 shares of the insurance provider’s stock valued at $743,000 after buying an additional 441 shares during the period. Belpointe Asset Management LLC lifted its holdings in shares of The Hartford Insurance Group by 9.9% in the 1st quarter. Belpointe Asset Management LLC now owns 5,771 shares of the insurance provider’s stock valued at $714,000 after buying an additional 520 shares during the period. Ransom Advisory Ltd acquired a new position in shares of The Hartford Insurance Group in the 1st quarter valued at about $371,000. Advisory Alpha LLC lifted its holdings in shares of The Hartford Insurance Group by 48.2% in the 1st quarter. Advisory Alpha LLC now owns 2,765 shares of the insurance provider’s stock valued at $342,000 after buying an additional 899 shares during the period. Finally, Bayforest Capital Ltd lifted its holdings in shares of The Hartford Insurance Group by 120.4% in the 1st quarter. Bayforest Capital Ltd now owns 3,084 shares of the insurance provider’s stock valued at $382,000 after buying an additional 1,685 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $131.13 on Thursday. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.17. The stock has a 50 day moving average of $127.41 and a two-hundred day moving average of $124.22. 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 firm has a market cap of $36.87 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping 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 company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period in the previous year, the business earned $2.50 EPS. The Hartford Insurance Group’s quarterly revenue was up 7.7% on a year-over-year basis. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group’s payout ratio is 18.86%.

Analyst Ratings Changes

Several brokerages have recently issued reports on HIG. Citigroup started coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price objective for the company. Morgan Stanley upped their price target 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. Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. UBS Group upped their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, August 4th. Finally, Wall Street Zen cut The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $138.00.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction 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. The trade was a 31.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

About The Hartford Insurance Group

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.