MGO One Seven LLC Boosts Stock Holdings in The Hartford Insurance Group, Inc. $HIG

MGO One Seven LLC increased its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 29.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,986 shares of the insurance provider’s stock after acquiring an additional 1,358 shares during the quarter. MGO One Seven LLC’s holdings in The Hartford Insurance Group were worth $759,000 at the end of the most recent reporting period.

Other institutional investors and 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 acquiring an additional 155 shares in the last quarter. Center for Financial Planning Inc. purchased a new stake in The Hartford Insurance Group in the 1st quarter worth $33,000. Meeder Asset Management Inc. increased its holdings in The Hartford Insurance Group by 123.8% in the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 161 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in The Hartford Insurance Group in the 1st quarter worth $37,000. Finally, Signature Resources Capital Management LLC purchased a new stake in The Hartford Insurance Group in the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HIG. Cantor Fitzgerald began coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 price target for the company. Wells Fargo & Company upped their target price on shares of The Hartford Insurance Group from $139.00 to $147.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. UBS Group upped their target price on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Wednesday, October 8th. One investment 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $140.07.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were 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 in the company, valued at approximately $9,580,389. The trade was a 31.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

The Hartford Insurance Group Stock Down 3.7%

NYSE HIG opened at $123.86 on Friday. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $135.17. 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 business’s fifty day simple moving average is $131.51 and its 200-day simple moving average is $126.47. The firm has a market cap of $34.83 billion, a PE ratio of 11.23, a P/E/G ratio of 1.24 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last posted 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 business 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 company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.50 EPS. As a group, equities analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, September 2nd. The Hartford Insurance Group’s payout ratio is 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.