Martingale Asset Management L P Raises Position in The Hartford Insurance Group, Inc. $HIG

Martingale Asset Management L P grew its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 0.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 182,420 shares of the insurance provider’s stock after buying an additional 1,286 shares during the quarter. Martingale Asset Management L P’s holdings in The Hartford Insurance Group were worth $22,571,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Park Square Financial Group LLC increased its holdings in The Hartford Insurance Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock worth $32,000 after buying an additional 155 shares in the last quarter. Spurstone Advisory Services LLC purchased a new stake in The Hartford Insurance Group during the 4th quarter valued at $33,000. Center for Financial Planning Inc. purchased a new position in shares of The Hartford Insurance Group in the 1st quarter worth $33,000. Itau Unibanco Holding S.A. bought a new stake in shares of The Hartford Insurance Group in the fourth quarter worth $35,000. Finally, Meeder Asset Management Inc. grew 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 period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Beth Ann Costello sold 35,340 shares of the 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by company insiders.

The Hartford Insurance Group Stock Up 1.4%

NYSE HIG opened at $133.6470 on Thursday. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $134.12. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The stock has a market cap of $37.58 billion, a PE ratio of 12.12, a P/E/G ratio of 1.28 and a beta of 0.67. The stock’s 50 day moving average is $125.32 and its 200 day moving average is $122.15.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $7.02 billion. During the same quarter last year, the business posted $2.50 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend 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 dividend payout ratio is presently 18.86%.

Analysts Set New Price Targets

Several research analysts have issued reports on HIG shares. UBS Group raised their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. Barclays lowered their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, July 7th. Wall Street Zen upgraded shares of The Hartford Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods upped their price objective on The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $137.64.

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.