832 Shares in The Hartford Insurance Group, Inc. $HIG Acquired by OFI Invest Asset Management

OFI Invest Asset Management purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 832 shares of the insurance provider’s stock, valued at approximately $106,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. NorthRock Partners LLC boosted its position in The Hartford Insurance Group by 2.6% in the 1st quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider’s stock valued at $395,000 after buying an additional 80 shares during the period. Wayfinding Financial LLC boosted its position in The Hartford Insurance Group by 3.0% in the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider’s stock valued at $355,000 after buying an additional 84 shares during the period. Wealthspire Advisors LLC boosted its position in The Hartford Insurance Group by 3.2% in the 1st quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider’s stock valued at $356,000 after buying an additional 88 shares during the period. BayBridge Capital Group LLC boosted its position in The Hartford Insurance Group by 2.4% in the 2nd quarter. BayBridge Capital Group LLC now owns 3,776 shares of the insurance provider’s stock valued at $479,000 after buying an additional 89 shares during the period. Finally, GSB Wealth Management LLC boosted its position in The Hartford Insurance Group by 2.4% in the 2nd quarter. GSB Wealth Management LLC now owns 3,849 shares of the insurance provider’s stock valued at $488,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $128.89 on Monday. The company’s fifty day moving average price is $131.46 and its 200 day moving average price is $126.37. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.17. 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 market capitalization of $36.24 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.24 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping 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 analyst estimates of $7.02 billion. During the same period last year, the business earned $2.50 EPS. The Hartford Insurance Group’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The Hartford Insurance Group’s dividend payout ratio is 18.86%.

Insider Transactions at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Beth Ann Costello sold 35,340 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on HIG shares. Wells Fargo & Company raised their price target on shares of The Hartford Insurance Group from $139.00 to $147.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Wednesday, October 8th. Barclays decreased their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, July 7th. Wall Street Zen raised shares of The Hartford Insurance Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, Morgan Stanley lifted their price objective on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.07.

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.