The Hartford Insurance Group, Inc. $HIG Stake Lowered by Apollon Wealth Management LLC

Apollon Wealth Management LLC decreased its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,773 shares of the insurance provider’s stock after selling 270 shares during the period. Apollon Wealth Management LLC’s holdings in The Hartford Insurance Group were worth $479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its position in The Hartford Insurance Group by 167.8% in the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider’s stock worth $39,000 after buying an additional 198 shares during the period. Sharp Financial Services LLC acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter worth about $260,000. Oppenheimer & Co. Inc. boosted its stake in The Hartford Insurance Group by 86.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider’s stock valued at $533,000 after purchasing an additional 2,000 shares during the period. Concurrent Investment Advisors LLC acquired a new position in The Hartford Insurance Group during the 1st quarter valued at about $233,000. Finally, Aurora Investment Counsel bought a new position in The Hartford Insurance Group in the 1st quarter worth about $2,434,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Down 3.7%

NYSE HIG opened at $123.86 on Friday. 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 company’s 50 day simple moving average is $131.51 and its 200 day simple moving average is $126.47. 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 market capitalization of $34.83 billion, a P/E ratio of 11.23, a PEG ratio of 1.24 and a beta of 0.69.

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, topping analysts’ consensus estimates of $2.83 by $0.58. The firm had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $2.50 earnings per share. Equities research analysts expect 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 announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s payout ratio is 18.86%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on The Hartford Insurance Group from $139.00 to $147.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Wolfe Research assumed coverage on The Hartford Insurance Group in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Raymond James Financial reissued an “outperform” rating and set a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Evercore ISI upped their price objective on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Finally, Cantor Fitzgerald assumed coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $140.07.

Insider Buying and Selling at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group 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 completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This represents a 31.30% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

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.