Shell Asset Management Co. Purchases 11,732 Shares of The Hartford Insurance Group, Inc. $HIG

Shell Asset Management Co. increased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 26.1% during the 2nd quarter, Holdings Channel reports. The firm owned 56,755 shares of the insurance provider’s stock after acquiring an additional 11,732 shares during the period. Shell Asset Management Co.’s holdings in The Hartford Insurance Group were worth $7,201,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of HIG. Park Square Financial Group LLC raised its holdings in The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 155 shares during the period. Center for Financial Planning Inc. bought a new stake in The Hartford Insurance Group during the 1st quarter valued at approximately $33,000. Meeder Asset Management Inc. raised its stake in The Hartford Insurance Group by 123.8% during the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 161 shares during the period. Smallwood Wealth Investment Management LLC purchased a new position in The Hartford Insurance Group in the 1st quarter worth approximately $37,000. Finally, Signature Resources Capital Management LLC bought a new position in The Hartford Insurance Group in the 2nd quarter worth approximately $38,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock opened at $132.50 on Tuesday. The stock has a market cap of $37.26 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50 day moving average price of $130.88 and a 200-day moving average price of $126.11. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.58. The company had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The Hartford Insurance Group’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $2.50 earnings per share. Equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The Hartford Insurance Group’s payout ratio is currently 18.86%.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,340 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. This represents a 31.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Citigroup began coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price target on the stock. Barclays dropped their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a report on Monday, July 7th. Keefe, Bruyette & Woods boosted their target price on The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Finally, Raymond James Financial restated an “outperform” rating and set a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.93.

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.