S Bank Fund Management Ltd Invests $557,000 in The Hartford Insurance Group, Inc. (NYSE:HIG)

S Bank Fund Management Ltd purchased a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) in the first quarter, HoldingsChannel.com reports. The fund purchased 4,504 shares of the insurance provider’s stock, valued at approximately $557,000.

Other institutional investors also recently made changes to their positions in the company. Park Square Financial Group LLC raised its holdings in shares of The Hartford Insurance Group by 146.2% in the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 155 shares during the last quarter. Center for Financial Planning Inc. acquired a new position in shares of The Hartford Insurance Group in the first quarter worth $33,000. Meeder Asset Management Inc. raised its holdings in shares of The Hartford Insurance Group by 123.8% in the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 161 shares during the last quarter. Spurstone Advisory Services LLC acquired a new position in shares of The Hartford Insurance Group in the fourth quarter worth $33,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of The Hartford Insurance Group during the first quarter worth $37,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HIG shares. Barclays decreased their price objective on The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating on the stock in a report on Monday, July 7th. Wells Fargo & Company raised their price objective on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Raymond James Financial restated an “outperform” rating and set a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Morgan Stanley raised their price objective on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Finally, Cantor Fitzgerald started coverage on The Hartford Insurance Group in a report on Wednesday. They set an “overweight” rating and a $152.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and a consensus target price of $137.64.

The Hartford Insurance Group Trading Up 1.5%

HIG stock opened at $130.98 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The company has a market cap of $36.83 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.26 and a beta of 0.67. The business has a fifty day simple moving average of $124.84 and a 200-day simple moving average of $121.52. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $132.09.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating the consensus estimate of $2.83 by $0.58. The company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $2.50 earnings per share. On average, equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

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

Insider Buying and Selling

In related news, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was 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 of the company’s stock, valued at approximately $9,580,389. The trade was a 31.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Profile

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.