Virtus Advisers LLC Purchases New Position in The Hartford Insurance Group, Inc. $HIG

Virtus Advisers LLC acquired a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,212 shares of the insurance provider’s stock, valued at approximately $154,000.

A number of other institutional investors and hedge funds have also bought and sold shares of HIG. Private Wealth Management Group LLC lifted its holdings in shares of The Hartford Insurance Group by 151.1% in the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after buying an additional 133 shares during the period. Vermillion & White Wealth Management Group LLC raised its holdings in shares of The Hartford Insurance Group by 72.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 99 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in The Hartford Insurance Group in the second quarter worth about $35,000. Signature Resources Capital Management LLC bought a new position in The Hartford Insurance Group during the 2nd quarter worth about $38,000. Finally, Addison Advisors LLC increased its position in The Hartford Insurance Group by 129.3% during the 2nd quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 181 shares during the period. 93.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Wall Street Zen cut The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Morgan Stanley upped their target price on The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Royal Bank Of Canada assumed coverage on The Hartford Insurance Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price target on the stock. Finally, Cantor Fitzgerald began coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.29.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $137.03 on Monday. The business’s 50-day moving average is $130.30 and its two-hundred day moving average is $128.66. The company has a market capitalization of $38.18 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $138.64. 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 (NYSE:HIG) last issued its earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate 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 was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.53 earnings per share. Research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share 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 1.8%. 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 19.61%.

Insider Buying and Selling

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, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is owned by company insiders.

About The Hartford Insurance Group

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.