Legacy Financial Advisors Inc. Acquires Shares of 1,635 The Hartford Insurance Group, Inc. $HIG

Legacy Financial Advisors Inc. bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 1st quarter, Holdings Channel.com reports. The firm bought 1,635 shares of the insurance provider’s stock, valued at approximately $202,000.

Several other hedge funds also recently made changes to their positions in HIG. Park Square Financial Group LLC boosted its position in The Hartford Insurance Group by 146.2% during the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock valued at $32,000 after buying an additional 155 shares during the period. Center for Financial Planning Inc. bought a new position in shares of The Hartford Insurance Group during the first quarter valued at about $33,000. Meeder Asset Management Inc. boosted its holdings in shares of The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 161 shares during the period. Spurstone Advisory Services LLC bought a new stake in shares of The Hartford Insurance Group in the fourth quarter worth about $33,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in The Hartford Insurance Group during the 1st quarter valued at about $37,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HIG shares. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Barclays cut their price target on shares of 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 upped their price objective on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Finally, Morgan Stanley lifted their price objective on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.64.

Insider Buying and Selling

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Trading Up 1.4%

Shares of NYSE HIG opened at $133.6470 on Thursday. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $134.12. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a 50-day moving average of $125.32 and a 200 day moving average of $122.15. The stock has a market cap of $37.58 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 1.28 and a beta of 0.67.

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

The Hartford Insurance Group Dividend Announcement

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

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.