Wealthfront Advisers LLC Has $7.07 Million Stake in The Hartford Insurance Group, Inc. $HIG

Wealthfront Advisers LLC increased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 21.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 52,247 shares of the insurance provider’s stock after acquiring an additional 9,168 shares during the period. Wealthfront Advisers LLC’s holdings in The Hartford Insurance Group were worth $7,065,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of HIG. Y Intercept Hong Kong Ltd acquired a new stake in The Hartford Insurance Group in the 1st quarter valued at approximately $4,131,000. Nordea Investment Management AB raised its stake in shares of The Hartford Insurance Group by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider’s stock valued at $606,956,000 after buying an additional 81,712 shares in the last quarter. Abacus Wealth Partners LLC bought a new position in The Hartford Insurance Group during the fourth quarter worth about $1,971,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of The Hartford Insurance Group by 22.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 182,453 shares of the insurance provider’s stock worth $24,971,000 after buying an additional 32,846 shares during the period. Finally, Goelzer Investment Management Inc. bought a new position in shares of The Hartford Insurance Group during the fourth quarter valued at $1,213,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Trading Up 2.6%

NYSE:HIG opened at $140.26 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 1-year low of $120.33 and a 1-year high of $144.50. The firm has a market capitalization of $38.45 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 3.81 and a beta of 0.47. The business’s 50-day moving average price is $133.04 and its two-hundred day moving average price is $135.40.

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

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is presently 16.87%.

Insider Transactions at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction on 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 ownership of the stock. The sale was disclosed in a legal 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. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on HIG. Mizuho lifted their target price on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Bank of America upped their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Cantor Fitzgerald raised their target price on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Finally, Barclays cut their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, June 12th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of “Hold” and an average target price of $148.38.

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.