Investment Advisory Services Inc. TX ADV Takes $220,000 Position in The Hartford Insurance Group, Inc. $HIG

Investment Advisory Services Inc. TX ADV purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,732 shares of the insurance provider’s stock, valued at approximately $220,000.

Other institutional investors have also recently modified their holdings of the company. Park Square Financial Group LLC boosted its stake 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 valued at $32,000 after buying an additional 155 shares in the last quarter. Center for Financial Planning Inc. purchased a new stake in shares of The Hartford Insurance Group in the first quarter valued at approximately $33,000. Meeder Asset Management Inc. boosted its stake 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 valued at $36,000 after buying an additional 161 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of The Hartford Insurance Group in the first quarter valued at approximately $37,000. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of The Hartford Insurance Group in the second quarter valued at approximately $38,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HIG has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. Citigroup began coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. UBS Group boosted 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. Finally, JPMorgan Chase & Co. boosted their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $138.00.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $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 is available through the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $133.04 on Monday. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.17. The stock has a market cap of $37.41 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.29 and a beta of 0.72. The business has a fifty day moving average of $129.64 and a 200-day moving average of $125.55. 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 Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The company had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.02 billion. During the same period in the previous year, the firm posted $2.50 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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

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.