The Hartford Insurance Group, Inc. (NYSE:HIG) Shares Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC grew its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 167.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 316 shares of the insurance provider’s stock after purchasing an additional 198 shares during the quarter. Golden State Wealth Management LLC’s holdings in The Hartford Insurance Group were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of HIG. Spire Wealth Management grew its holdings in The Hartford Insurance Group by 17.4% in the first quarter. Spire Wealth Management now owns 4,809 shares of the insurance provider’s stock valued at $595,000 after purchasing an additional 713 shares during the period. International Assets Investment Management LLC increased its holdings in shares of The Hartford Insurance Group by 1.9% during the 1st quarter. International Assets Investment Management LLC now owns 5,766 shares of the insurance provider’s stock worth $713,000 after buying an additional 105 shares during the last quarter. Bluesphere Advisors LLC grew its position in The Hartford Insurance Group by 8.2% during the first quarter. Bluesphere Advisors LLC now owns 2,930 shares of the insurance provider’s stock valued at $363,000 after acquiring an additional 222 shares during the period. Asset Management One Co. Ltd. increased its stake in The Hartford Insurance Group by 5.4% during the first quarter. Asset Management One Co. Ltd. now owns 151,775 shares of the insurance provider’s stock worth $18,779,000 after acquiring an additional 7,765 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its holdings in shares of The Hartford Insurance Group by 4.2% in the 1st quarter. GHP Investment Advisors Inc. now owns 59,695 shares of the insurance provider’s stock worth $7,386,000 after purchasing an additional 2,427 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HIG. UBS Group boosted their target price on The Hartford Insurance Group from $139.00 to $142.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Piper Sandler increased their target price on The Hartford Insurance Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. boosted their price target on The Hartford Insurance Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. Jefferies Financial Group cut their price objective on shares of The Hartford Insurance Group from $118.00 to $117.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Finally, Morgan Stanley upped their target price on The Hartford Insurance Group from $115.00 to $130.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.58.

The Hartford Insurance Group Trading Down 0.2%

The Hartford Insurance Group stock opened at $126.57 on Wednesday. The company has a market cap of $35.96 billion, a P/E ratio of 12.62, a PEG ratio of 1.23 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 1 year low of $98.16 and a 1 year high of $132.09. The firm’s 50-day moving average is $126.59 and its 200-day moving average is $118.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.15 by $0.05. The Hartford Insurance Group had a return on equity of 18.73% and a net margin of 11.10%. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.97 billion. During the same period in the prior year, the company earned $2.34 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Monday, June 2nd. The Hartford Insurance Group’s payout ratio is 20.74%.

Insider Buying and Selling at The Hartford Insurance Group

In related news, SVP Allison G. Niderno sold 1,086 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the sale, the senior vice president directly owned 622 shares in the company, valued at $74,279.24. This trade represents a 63.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.

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.