Concurrent Investment Advisors LLC Takes $233,000 Position in The Hartford Insurance Group, Inc. (NYSE:HIG)

Concurrent Investment Advisors LLC purchased a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,886 shares of the insurance provider’s stock, valued at approximately $233,000.

Several other large investors also recently modified their holdings of HIG. Norges Bank acquired a new stake in shares of The Hartford Insurance Group during the fourth quarter worth $416,340,000. GAMMA Investing LLC increased its position in shares of The Hartford Insurance Group by 14,049.5% during the first quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider’s stock worth $1,761,930,000 after buying an additional 1,413,945 shares during the period. Ameriprise Financial Inc. increased its position in shares of The Hartford Insurance Group by 48.1% during the fourth quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider’s stock worth $247,761,000 after buying an additional 735,170 shares during the period. Northern Trust Corp increased its position in shares of The Hartford Insurance Group by 17.2% during the fourth quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider’s stock worth $387,021,000 after buying an additional 519,717 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in shares of The Hartford Insurance Group during the fourth quarter worth $46,271,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Down 0.9%

Shares of NYSE HIG opened at $120.80 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.31 and a quick ratio of 0.31. The company has a 50-day moving average price of $126.84 and a 200-day moving average price of $119.27. The Hartford Insurance Group, Inc. has a 1 year low of $101.02 and a 1 year high of $132.09. The stock has a market capitalization of $34.32 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.17 and a beta of 0.69.

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

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Monday, June 2nd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Monday, June 2nd. The Hartford Insurance Group’s payout ratio is currently 20.74%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HIG shares. Piper Sandler increased their price objective on shares of 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. Raymond James Financial raised their price target on shares of The Hartford Insurance Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. UBS Group raised their price target on shares of The Hartford Insurance Group from $142.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays reduced their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a report on Monday, July 7th. Finally, Wall Street Zen upgraded shares of The Hartford Insurance Group from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $133.67.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, SVP Allison G. Niderno sold 1,086 shares of the business’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the transaction, the senior vice president directly owned 622 shares in the company, valued at $74,279.24. The trade was a 63.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is 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.