Brookstone Capital Management Acquires Shares of 1,653 The Hartford Insurance Group, Inc. $HIG

Brookstone Capital Management acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,653 shares of the insurance provider’s stock, valued at approximately $210,000.

Several other hedge funds also recently bought and sold shares of the business. Oppenheimer & Co. Inc. grew its position in shares of The Hartford Insurance Group by 86.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider’s stock worth $533,000 after buying an additional 2,000 shares in the last quarter. Golden State Wealth Management LLC raised its stake in The Hartford Insurance Group by 167.8% in the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider’s stock valued at $39,000 after buying an additional 198 shares during the last quarter. Transcend Capital Advisors LLC purchased a new stake in The Hartford Insurance Group in the first quarter valued at about $213,000. Amalgamated Bank raised its stake in The Hartford Insurance Group by 0.7% in the first quarter. Amalgamated Bank now owns 56,682 shares of the insurance provider’s stock valued at $7,013,000 after buying an additional 419 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of The Hartford Insurance Group in the first quarter worth about $37,000. Institutional investors own 93.42% of the company’s stock.

Insider Activity

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Beth Ann Costello sold 35,340 shares of the business’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 transaction, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HIG. Wolfe Research started coverage on The Hartford Insurance Group in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. UBS Group raised their price objective on The Hartford Insurance Group from $150.00 to $152.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Morgan Stanley raised their price objective on The Hartford Insurance Group from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. raised their price objective on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Finally, Evercore ISI raised their target price on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.07.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $122.80 on Wednesday. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $135.17. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $34.53 billion, a P/E ratio of 10.03, a P/E/G ratio of 1.21 and a beta of 0.69. The stock’s fifty day moving average is $130.62 and its two-hundred day moving average is $127.07.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The business had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.55% and a net margin of 12.75%.The company’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.53 earnings per share. Equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.40 annualized dividend and a yield of 2.0%. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio is presently 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.