Axxcess Wealth Management LLC Acquires New Shares in The Hartford Insurance Group, Inc. $HIG

Axxcess Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 1,578 shares of the insurance provider’s stock, valued at approximately $200,000.

A number of other institutional investors have also added to or reduced their stakes in HIG. GAMMA Investing LLC increased its stake in The Hartford Insurance Group by 14.4% in the 1st quarter. GAMMA Investing LLC now owns 11,509 shares of the insurance provider’s stock worth $1,424,000 after acquiring an additional 1,445 shares during the last quarter. Stonegate Investment Group LLC increased its stake in The Hartford Insurance Group by 24.1% in the 1st quarter. Stonegate Investment Group LLC now owns 4,930 shares of the insurance provider’s stock worth $610,000 after acquiring an additional 958 shares during the last quarter. Center for Financial Planning Inc. bought a new position in The Hartford Insurance Group in the 1st quarter worth about $33,000. Continuum Advisory LLC increased its stake in The Hartford Insurance Group by 0.4% in the 1st quarter. Continuum Advisory LLC now owns 37,445 shares of the insurance provider’s stock worth $4,633,000 after acquiring an additional 159 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in The Hartford Insurance Group in the 1st quarter worth about $586,000. 93.42% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Donald Christian Hunt sold 2,124 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $4,364,490.00. Following the completion of the sale, the chief financial officer owned 77,574 shares of the company’s stock, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Trading Up 0.3%

Shares of HIG stock opened at $124.37 on Monday. The stock has a market capitalization of $34.97 billion, a PE ratio of 11.28, a P/E/G ratio of 1.20 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $135.17. The business has a 50-day moving average of $131.43 and a 200 day moving average of $126.50. 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 Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.58. The company had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The Hartford Insurance Group’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.50 EPS. As a group, sell-side 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 announced a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $2.08 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is currently 18.86%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HIG shares. Wall Street Zen upgraded The Hartford Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. 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 price objective on the stock. Wells Fargo & Company increased their price objective on 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. Raymond James Financial reiterated an “outperform” rating and set a $140.00 price objective (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Finally, Cantor Fitzgerald began coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.07.

The Hartford Insurance Group Company 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.