Diamond Hill Capital Management LLC Investment Advisor Takes $6.63 Million Position in The Hartford Insurance Group, Inc. $HIG

Diamond Hill Capital Management LLC Investment Advisor acquired a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 50,065 shares of the insurance provider’s stock, valued at approximately $6,635,000.

A number of other hedge funds have also bought and sold shares of HIG. Y Intercept Hong Kong Ltd bought a new position in The Hartford Insurance Group in the 1st quarter worth $4,131,000. Abacus Wealth Partners LLC bought a new stake in shares of The Hartford Insurance Group during the 4th quarter valued at about $1,971,000. Strs Ohio boosted its stake in shares of The Hartford Insurance Group by 4.7% during the 1st quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock valued at $26,994,000 after purchasing an additional 8,890 shares in the last quarter. Arbejdsmarkedets Tillaegspension increased its position in shares of The Hartford Insurance Group by 4.6% during the first quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock valued at $25,303,000 after buying an additional 8,250 shares during the period. Finally, SEB Asset Management AB purchased a new position in shares of The Hartford Insurance Group during the first quarter valued at about $69,310,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HIG. Royal Bank Of Canada increased their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. lifted their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Cantor Fitzgerald upped their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Barclays decreased their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Finally, Keefe, Bruyette & Woods raised their price objective on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $149.67.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $136.73 on Tuesday. The Hartford Insurance Group, Inc. has a one year low of $120.33 and a one year high of $146.07. The company’s 50-day moving average is $136.88 and its 200 day moving average is $136.53. The company has a market capitalization of $37.04 billion, a price-to-earnings ratio of 8.84, a price-to-earnings-growth ratio of 3.39 and a beta of 0.46. 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 Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the firm earned $3.41 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is currently 15.51%.

The Hartford Insurance Group Company Profile

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.