Cullen Frost Bankers Inc. Buys 549 Shares of The Hartford Insurance Group, Inc. $HIG

Cullen Frost Bankers Inc. boosted its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 7.7% in the second quarter, HoldingsChannel reports. The firm owned 7,719 shares of the insurance provider’s stock after purchasing an additional 549 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in The Hartford Insurance Group were worth $979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC boosted its position in The Hartford Insurance Group by 151.1% during the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 133 shares during the period. Park Square Financial Group LLC lifted its holdings in shares of The Hartford Insurance Group by 146.2% during the first 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. Meeder Asset Management Inc. lifted its holdings in shares of The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after buying an additional 161 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of The Hartford Insurance Group during the first quarter worth $37,000. Finally, Signature Resources Capital Management LLC acquired a new stake in shares of The Hartford Insurance Group during the second quarter worth $38,000. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Stock Up 0.1%

HIG stock opened at $125.05 on Friday. The company has a market cap of $35.16 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.21 and a beta of 0.69. The business has a 50-day simple moving average of $131.01 and a 200 day simple moving average of $126.66. 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 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, beating analysts’ consensus estimates of $2.83 by $0.58. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.50 earnings per share. Sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup assumed coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 target price for the company. JPMorgan Chase & Co. lifted their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Morgan Stanley lifted their target price on The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Raymond James Financial reissued an “outperform” rating and set a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Finally, Wall Street Zen raised The Hartford Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. One 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $140.07.

Insider Activity

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of the business’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 of the company’s stock, valued at approximately $9,580,389. The trade was a 31.30% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

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.