Evolve Private Wealth LLC Buys New Shares in The Hartford Insurance Group, Inc. $HIG

Evolve Private Wealth LLC purchased a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, Holdings Channel reports. The firm purchased 6,842 shares of the insurance provider’s stock, valued at approximately $911,000.

A number of other large investors have also made changes to their positions in HIG. First Pacific Financial acquired a new stake in The Hartford Insurance Group during the first quarter worth about $26,000. MidFirst Bank acquired a new position in The Hartford Insurance Group in the 2nd quarter valued at approximately $26,000. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group in the 3rd quarter worth approximately $26,000. Navigoe LLC bought a new stake in shares of The Hartford Insurance Group in the 2nd quarter worth approximately $27,000. Finally, Phillip James Consulting Co. acquired a new stake in shares of The Hartford Insurance Group during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Up 0.1%

Shares of NYSE:HIG opened at $136.30 on Monday. 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 company’s fifty day moving average is $137.56 and its 200-day moving average is $136.63. The company has a market capitalization of $36.92 billion, a PE ratio of 8.81, a P/E/G ratio of 3.34 and a beta of 0.46.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the company posted $3.41 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts predict that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 15.51%.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Piper Sandler reiterated a “neutral” rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Cantor Fitzgerald raised their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Barclays decreased their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Wells Fargo & Company lowered their target price 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. Finally, Mizuho raised their price target on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Hold” and an average target price of $149.67.

About The Hartford Insurance Group

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.