Angeles Wealth Management LLC Acquires New Holdings in The Hartford Insurance Group, Inc. $HIG

Angeles Wealth Management LLC acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,831 shares of the insurance provider’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of HIG. GAMMA Investing LLC raised its holdings in The Hartford Insurance Group by 14.4% in the 1st quarter. GAMMA Investing LLC now owns 11,509 shares of the insurance provider’s stock valued at $1,424,000 after buying an additional 1,445 shares during the period. Sowell Financial Services LLC purchased a new stake in The Hartford Insurance Group in the 1st quarter valued at about $465,000. State of Alaska Department of Revenue raised its holdings in The Hartford Insurance Group by 2.0% in the 1st quarter. State of Alaska Department of Revenue now owns 33,705 shares of the insurance provider’s stock valued at $4,170,000 after buying an additional 650 shares during the period. Means Investment CO. Inc. purchased a new stake in The Hartford Insurance Group in the 1st quarter valued at about $223,000. Finally, Advisor Resource Council acquired a new position in The Hartford Insurance Group in the 1st quarter valued at about $2,198,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $124.37 on Friday. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17. The company has a market cap of $34.97 billion, a PE ratio of 11.28, a P/E/G ratio of 1.20 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The business has a 50-day simple moving average of $131.43 and a 200-day simple moving average of $126.48.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the previous year, the company posted $2.50 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s payout ratio is currently 18.86%.

Wall Street Analysts Forecast Growth

HIG has been the subject of several research reports. Piper Sandler lifted their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Morgan Stanley lifted their target price on The Hartford Insurance Group from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. lifted their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Wolfe Research initiated coverage on The Hartford Insurance Group in a research report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.07.

Insider Transactions at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at approximately $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. 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.