Y Intercept Hong Kong Ltd Buys Shares of 30,549 The Hartford Insurance Group, Inc. $HIG

Y Intercept Hong Kong Ltd purchased a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the first quarter, according to its most recent filing with the SEC. The firm purchased 30,549 shares of the insurance provider’s stock, valued at approximately $4,131,000.

Other institutional investors have also modified their holdings of the company. First Pacific Financial acquired a new position in The Hartford Insurance Group during the first quarter worth $26,000. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group in the third quarter valued at $26,000. United Financial Planning Group LLC acquired a new stake in The Hartford Insurance Group in the third quarter valued at $29,000. Sunbelt Securities Inc. purchased a new position in shares of The Hartford Insurance Group in the third quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC raised its stake in shares of The Hartford Insurance Group by 144.8% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after buying an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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.

The Hartford Insurance Group Stock Down 0.2%

Shares of HIG opened at $137.52 on Monday. The Hartford Insurance Group, Inc. has a fifty-two week low of $119.61 and a fifty-two week high of $144.50. The company’s fifty day moving average is $132.49 and its two-hundred day moving average is $135.42. The firm has a market cap of $37.70 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 2.53 and a beta of 0.47. 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 Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the previous year, the company earned $2.20 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts forecast that The Hartford Insurance Group, Inc. will post 12.9 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st were paid a dividend of $0.60 per share. The ex-dividend date was Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is currently 16.87%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HIG. Cantor Fitzgerald lowered their price objective on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Barclays cut their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Piper Sandler reduced their price target on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a report on Thursday, June 11th. Keefe, Bruyette & Woods lowered their price target on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a research report on Thursday, June 4th. Finally, Bank of America raised their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group has an average rating of “Moderate Buy” and an average price target of $147.31.

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.