Pallas Capital Advisors LLC Raises Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Pallas Capital Advisors LLC raised its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 10.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,069 shares of the insurance provider’s stock after buying an additional 201 shares during the quarter. Pallas Capital Advisors LLC’s holdings in The Hartford Insurance Group were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC purchased a new stake in The Hartford Insurance Group in the second quarter valued at approximately $212,000. Balefire LLC purchased a new stake in The Hartford Insurance Group in the second quarter valued at approximately $233,000. Harbor Capital Advisors Inc. lifted its stake in The Hartford Insurance Group by 29.4% in the second quarter. Harbor Capital Advisors Inc. now owns 400 shares of the insurance provider’s stock valued at $51,000 after buying an additional 91 shares during the last quarter. Riversedge Advisors LLC lifted its stake in The Hartford Insurance Group by 22.5% in the second quarter. Riversedge Advisors LLC now owns 2,058 shares of the insurance provider’s stock valued at $261,000 after buying an additional 378 shares during the last quarter. Finally, Czech National Bank lifted its stake in The Hartford Insurance Group by 5.1% in the second quarter. Czech National Bank now owns 69,444 shares of the insurance provider’s stock valued at $8,810,000 after buying an additional 3,387 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Beth Ann Costello sold 35,340 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were 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. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. Wall Street Zen cut The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Sunday. Cantor Fitzgerald assumed coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price target for the company. Wolfe Research assumed coverage on The Hartford Insurance Group in a research note on Tuesday, September 16th. They set a “peer perform” rating for the company. Finally, Citigroup assumed coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price target for the company. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $138.00.

The Hartford Insurance Group Trading Down 0.4%

NYSE:HIG opened at $130.90 on Monday. The stock has a fifty day moving average price of $128.62 and a two-hundred day moving average price of $125.03. The stock has a market capitalization of $36.81 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.27 and a beta of 0.72. 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, Inc. has a 1 year low of $104.93 and a 1 year high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The Hartford Insurance Group’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.50 earnings per share. As a group, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a yield of 1.6%. The Hartford Insurance Group’s dividend payout ratio is 18.86%.

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.