DAVENPORT & Co LLC Raises Stake in The Hartford Insurance Group, Inc. (NYSE:HIG)

DAVENPORT & Co LLC boosted its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 9.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,983 shares of the insurance provider’s stock after purchasing an additional 343 shares during the period. DAVENPORT & Co LLC’s holdings in The Hartford Insurance Group were worth $493,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of HIG. Spurstone Advisory Services LLC purchased a new position in The Hartford Insurance Group in the fourth quarter valued at approximately $33,000. Center for Financial Planning Inc. purchased a new position in The Hartford Insurance Group in the first quarter valued at approximately $33,000. Itau Unibanco Holding S.A. purchased a new position in The Hartford Insurance Group in the fourth quarter valued at approximately $35,000. Flagship Wealth Advisors LLC purchased a new position in The Hartford Insurance Group in the fourth quarter valued at approximately $36,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of The Hartford Insurance Group during the first quarter worth $37,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Down 1.3%

HIG opened at $123.36 on Tuesday. The stock has a market cap of $35.05 billion, a PE ratio of 12.30, a P/E/G ratio of 1.21 and a beta of 0.69. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.26. The Hartford Insurance Group, Inc. has a 52 week low of $99.11 and a 52 week high of $132.09. The business’s fifty day simple moving average is $126.95 and its 200 day simple moving average is $119.01.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.97 billion. During the same period last year, the firm earned $2.34 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd were paid a dividend of $0.52 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.69%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 20.74%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HIG shares. Jefferies Financial Group dropped their target price on The Hartford Insurance Group from $118.00 to $117.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Wall Street Zen upgraded The Hartford Insurance Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Piper Sandler increased their target price on The Hartford Insurance Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 1st. Keefe, Bruyette & Woods dropped their target price on The Hartford Insurance Group from $140.00 to $133.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company dropped their target price on The Hartford Insurance Group from $126.00 to $125.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $132.33.

Insider Activity

In other news, SVP Allison G. Niderno sold 1,086 shares of the firm’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $119.42, for a total transaction of $129,690.12. Following the transaction, the senior vice president directly owned 622 shares of the company’s stock, valued at approximately $74,279.24. This trade represents a 63.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.50% 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.