Great Lakes Advisors LLC Buys New Shares in The Hartford Insurance Group, Inc. $HIG

Great Lakes Advisors LLC purchased a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,031,933 shares of the insurance provider’s stock, valued at approximately $136,752,000. The Hartford Insurance Group comprises approximately 1.0% of Great Lakes Advisors LLC’s holdings, making the stock its 26th largest position. Great Lakes Advisors LLC owned 0.38% of The Hartford Insurance Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BOK Financial Private Wealth Inc. purchased a new position in shares of The Hartford Insurance Group during the 2nd quarter worth about $606,000. Danske Bank A S acquired a new position in The Hartford Insurance Group during the second quarter worth approximately $742,000. Wealthfront Advisers LLC acquired a new position in The Hartford Insurance Group during the second quarter worth approximately $7,812,000. Foster & Motley Inc. purchased a new position in The Hartford Insurance Group during the second quarter worth approximately $13,953,000. Finally, Navigoe LLC purchased a new position in The Hartford Insurance Group during the second quarter worth approximately $27,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Cantor Fitzgerald increased their target price on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Wells Fargo & Company dropped their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, July 27th. Finally, Royal Bank Of Canada boosted their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $149.67.

The Hartford Insurance Group Stock Up 1.6%

Shares of NYSE HIG opened at $138.89 on Wednesday. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $146.07. The firm has a market cap of $37.62 billion, a price-to-earnings ratio of 8.98, a PEG 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 stock’s 50-day simple moving average is $137.08 and its 200-day simple moving average is $136.59.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the prior year, the business posted $3.41 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is 15.51%.

Insider Buying and Selling at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.

The Hartford Insurance Group 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.