NewEdge Wealth LLC Increases Position in The Hartford Insurance Group, Inc. $HIG

NewEdge Wealth LLC boosted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 28.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,329 shares of the insurance provider’s stock after purchasing an additional 3,840 shares during the quarter. NewEdge Wealth LLC’s holdings in The Hartford Insurance Group were worth $2,222,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HIG. Princeton Global Asset Management LLC purchased a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at approximately $27,000. Cornerstone Planning Group LLC raised its position in The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 184 shares during the period. Vermillion & White Wealth Management Group LLC lifted its holdings in The Hartford Insurance Group by 72.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 99 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in The Hartford Insurance Group during the second quarter valued at $35,000. Finally, Addison Advisors LLC grew its position in shares of The Hartford Insurance Group by 129.3% in the second 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 and hedge funds.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $142.21 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.32. The company has a market capitalization of $39.63 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. The firm’s 50-day moving average is $136.89 and its two-hundred day moving average is $133.02. The Hartford Insurance Group, Inc. has a 12 month low of $107.49 and a 12 month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter last year, the firm earned $2.94 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. Analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be given a $0.60 dividend. The ex-dividend date is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s payout ratio is currently 17.99%.

Insider Activity

In other news, CEO Christopher Swift sold 201,938 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the completion of the transaction, the chief executive officer directly owned 194,817 shares in the company, valued at approximately $26,574,986.97. This represents a 50.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lori A. Rodden sold 5,681 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $141.83, for a total value of $805,736.23. Following the sale, the executive vice president directly owned 18,400 shares of the company’s stock, valued at $2,609,672. The trade was a 23.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 343,928 shares of company stock valued at $47,393,256 in the last quarter. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on HIG shares. Morgan Stanley raised their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Cantor Fitzgerald increased their target price on The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Wall Street Zen lowered The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Royal Bank Of Canada began coverage on The Hartford Insurance Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price target for the company. Finally, Argus raised their price objective on The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.13.

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.