The Hartford Insurance Group, Inc. $HIG Stock Position Lifted by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC boosted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 28.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,238 shares of the insurance provider’s stock after buying an additional 719 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in The Hartford Insurance Group were worth $411,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC increased its stake in shares of 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 acquiring an additional 198 shares during the last quarter. Sharp Financial Services LLC purchased a new position in The Hartford Insurance Group in the first quarter valued at about $260,000. Oppenheimer & Co. Inc. increased its position in The Hartford Insurance Group by 86.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider’s stock worth $533,000 after purchasing an additional 2,000 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of The Hartford Insurance Group during the 1st quarter worth about $233,000. Finally, Aurora Investment Counsel purchased a new stake in shares of The Hartford Insurance Group during the 1st quarter worth about $2,434,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Transactions at The Hartford Insurance Group

In related 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 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 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. Insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

HIG has been the topic of a number of research reports. Weiss Ratings restated a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Barclays cut their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating on the stock in a report on Monday, July 7th. Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Finally, Evercore ISI increased their target price on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. One 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.07.

The Hartford Insurance Group Stock Up 0.3%

Shares of The Hartford Insurance Group stock opened at $124.37 on Friday. 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 quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average price of $131.43 and a two-hundred day moving average price of $126.47. The stock has a market capitalization of $34.97 billion, a P/E ratio of 11.28, a PEG ratio of 1.20 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data 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 business 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 Hartford Insurance Group’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.50 earnings per share. Equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 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.