Allworth Financial LP Acquires 896 Shares of The Hartford Insurance Group, Inc. $HIG

Allworth Financial LP boosted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 10.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,440 shares of the insurance provider’s stock after buying an additional 896 shares during the period. Allworth Financial LP’s holdings in The Hartford Insurance Group were worth $1,198,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Atlas Capital Advisors Inc. boosted its holdings in The Hartford Insurance Group by 95.1% during the first quarter. Atlas Capital Advisors Inc. now owns 6,443 shares of the insurance provider’s stock worth $797,000 after buying an additional 3,140 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of The Hartford Insurance Group by 93.1% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,614 shares of the insurance provider’s stock valued at $695,000 after acquiring an additional 2,707 shares during the period. Milestone Asset Management Group LLC acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at approximately $390,000. Wealth Enhancement Advisory Services LLC boosted its stake in The Hartford Insurance Group by 61.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 125,825 shares of the insurance provider’s stock worth $15,727,000 after acquiring an additional 47,919 shares during the last quarter. Finally, Brookwood Investment Group LLC acquired a new position in The Hartford Insurance Group during the first quarter valued at approximately $1,017,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the topic of a number of recent analyst reports. Citigroup assumed coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price target on the stock. Wolfe Research assumed coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Cantor Fitzgerald assumed coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 price target for the company. UBS Group raised their price target on The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $140.14.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $133.90 on Friday. The stock has a market capitalization of $37.31 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.27. The firm has a fifty day simple moving average of $129.47 and a 200 day simple moving average of $127.96. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the previous year, the business earned $2.53 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. Research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, December 1st. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

Insider Activity at The Hartford Insurance Group

In related news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the transaction, the executive vice president owned 18,400 shares in the company, valued at approximately $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Company Profile

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.