Wedge Capital Management L L P NC Has $34.44 Million Holdings in The Hartford Insurance Group, Inc. $HIG

Wedge Capital Management L L P NC lifted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,897 shares of the insurance provider’s stock after acquiring an additional 23,441 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.09% of The Hartford Insurance Group worth $34,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HIG. Tema ETFs LLC boosted its stake in shares of The Hartford Insurance Group by 29.1% during the second quarter. Tema ETFs LLC now owns 5,733 shares of the insurance provider’s stock valued at $760,000 after purchasing an additional 1,293 shares in the last quarter. E. Ohman J or Asset Management AB increased its stake in shares of The Hartford Insurance Group by 41.8% in the second quarter. E. Ohman J or Asset Management AB now owns 13,401 shares of the insurance provider’s stock valued at $1,776,000 after buying an additional 3,950 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of The Hartford Insurance Group by 15.8% in the second quarter. Valeo Financial Advisors LLC now owns 2,006 shares of the insurance provider’s stock valued at $266,000 after buying an additional 273 shares during the period. Czech National Bank raised its holdings in The Hartford Insurance Group by 2.7% in the 2nd quarter. Czech National Bank now owns 78,028 shares of the insurance provider’s stock valued at $10,340,000 after buying an additional 2,071 shares during the last quarter. Finally, Apella Capital LLC bought a new position in The Hartford Insurance Group in the 2nd quarter valued at approximately $270,000. Institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Bank of America upped their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Wells Fargo & Company reduced their price objective on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, July 27th. Royal Bank Of Canada increased their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Monday, July 27th. Piper Sandler reaffirmed a “neutral” rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Finally, Mizuho lifted their target price on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $149.67.

Insider Activity

In related news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president owned 38,208 shares in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

The Hartford Insurance Group Stock Down 1.5%

The Hartford Insurance Group stock opened at $139.09 on Wednesday. The firm has a market cap of $37.67 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 3.47 and a beta of 0.46. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a 50 day moving average price of $136.16 and a two-hundred day moving average price of $136.31.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the prior year, the company posted $3.41 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities analysts predict that The Hartford Insurance Group, Inc. will post 12.79 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be given a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 15.51%.

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.