Osaic Holdings Inc. Has $10.50 Million Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Osaic Holdings Inc. grew its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 217.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,904 shares of the insurance provider’s stock after buying an additional 57,437 shares during the quarter. Osaic Holdings Inc.’s holdings in The Hartford Insurance Group were worth $10,495,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. MASTERINVEST Kapitalanlage GmbH acquired a new position in The Hartford Insurance Group during the 2nd quarter valued at about $919,000. B. Riley Wealth Advisors Inc. bought a new position in shares of The Hartford Insurance Group in the second quarter valued at approximately $1,613,000. Advisory Services Network LLC boosted its position in shares of The Hartford Insurance Group by 17.2% during the second quarter. Advisory Services Network LLC now owns 16,680 shares of the insurance provider’s stock valued at $2,075,000 after buying an additional 2,443 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of The Hartford Insurance Group by 103.2% during the second quarter. Geneos Wealth Management Inc. now owns 12,197 shares of the insurance provider’s stock valued at $1,547,000 after buying an additional 6,196 shares during the last quarter. Finally, CYBER HORNET ETFs LLC bought a new stake in The Hartford Insurance Group during the second quarter worth $99,000. 93.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on HIG. UBS Group raised their price objective on The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Evercore ISI raised their price target on shares of 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. Wells Fargo & Company reduced their price objective on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Monday, December 15th. Finally, Argus boosted their target price on The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $144.60.

Insider Activity

In other news, EVP Lori A. Rodden sold 7,841 shares of the company’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 of the company’s stock, valued at $2,252,344. This represents a 29.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by insiders.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $139.05 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market cap of $38.75 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 1.30 and a beta of 0.63. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $139.92. The firm’s 50-day simple moving average is $131.02 and its two-hundred day simple moving average is $129.14.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results 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 firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.53 EPS. As a group, equities analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share 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. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 19.61%.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.