Y Intercept Hong Kong Ltd Boosts Holdings in The Hartford Insurance Group, Inc. $HIG

Y Intercept Hong Kong Ltd grew its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 122.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,242 shares of the insurance provider’s stock after purchasing an additional 7,826 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in The Hartford Insurance Group were worth $1,807,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC boosted its position in shares of The Hartford Insurance Group by 11.6% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 1,864 shares of the insurance provider’s stock worth $237,000 after purchasing an additional 194 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in The Hartford Insurance Group by 11.1% in the second quarter. Envestnet Asset Management Inc. now owns 659,881 shares of the insurance provider’s stock valued at $83,719,000 after buying an additional 65,724 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in The Hartford Insurance Group by 18.7% in the second quarter. Nisa Investment Advisors LLC now owns 101,020 shares of the insurance provider’s stock worth $12,870,000 after acquiring an additional 15,883 shares in the last quarter. Wealthfront Advisers LLC grew its stake in shares of The Hartford Insurance Group by 2.7% during the second quarter. Wealthfront Advisers LLC now owns 41,790 shares of the insurance provider’s stock worth $5,302,000 after acquiring an additional 1,080 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of The Hartford Insurance Group by 30.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 6,193 shares of the insurance provider’s stock valued at $786,000 after acquiring an additional 1,454 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wells Fargo & Company dropped their target price on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the company an “outperform” rating in a report on Monday, August 4th. JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Citigroup assumed coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price target for the company. Finally, Morgan Stanley increased their price objective on The Hartford Insurance Group from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $139.57.

Insider Transactions at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the transaction, the executive vice president directly owned 18,400 shares of the company’s stock, valued at $2,252,344. The trade was a 29.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction on 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 sale, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 45,305 shares of company stock valued at $5,608,647 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $124.35 on Friday. The firm’s fifty day moving average is $130.01 and its two-hundred day moving average is $127.20. The firm has a market cap of $34.65 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 1.19 and a beta of 0.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.32. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data 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 business had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.53 EPS. Research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, December 1st. This represents a $2.40 annualized dividend and a yield of 1.9%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s payout ratio is currently 16.99%.

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.