Assetmark Inc. Acquires 32,135 Shares of The Hartford Insurance Group, Inc. $HIG

Assetmark Inc. grew its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 768,041 shares of the insurance provider’s stock after purchasing an additional 32,135 shares during the quarter. Assetmark Inc.’s holdings in The Hartford Insurance Group were worth $103,862,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Ashton Thomas Private Wealth LLC acquired a new position in shares of The Hartford Insurance Group during the 1st quarter worth about $207,000. NewEdge Advisors LLC raised its holdings in The Hartford Insurance Group by 1.6% in the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock worth $7,122,000 after purchasing an additional 886 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of The Hartford Insurance Group by 3.9% during the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock worth $21,297,000 after purchasing an additional 6,285 shares in the last quarter. HUB Investment Partners LLC boosted its position in shares of The Hartford Insurance Group by 9.8% during the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock worth $878,000 after purchasing an additional 619 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of The Hartford Insurance Group by 25.5% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock valued at $24,488,000 after buying an additional 39,220 shares during the period. 93.42% of the stock is currently owned by institutional investors.

Insider Activity 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 stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the transaction, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Mizuho upped their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Bank of America boosted their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Wells Fargo & Company increased their price target on The Hartford Insurance Group from $154.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Cantor Fitzgerald increased their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods raised their price target on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $148.38.

The Hartford Insurance Group Trading Up 1.5%

Shares of NYSE:HIG opened at $136.50 on Friday. The Hartford Insurance Group, Inc. has a 12 month low of $120.05 and a 12 month high of $144.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $132.87 and its 200 day simple moving average is $135.37. The firm has a market cap of $37.42 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 3.09 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate of $3.39 by ($0.30). The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 earnings per share. As a group, research analysts forecast that The Hartford Insurance Group, Inc. will post 12.74 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s payout ratio is 16.87%.

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.