Cwm LLC Buys 720 Shares of The Hartford Insurance Group, Inc. $HIG

Cwm LLC boosted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,849 shares of the insurance provider’s stock after purchasing an additional 720 shares during the quarter. Cwm LLC’s holdings in The Hartford Insurance Group were worth $2,011,000 as of its most recent SEC filing.

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

Insider Activity at The Hartford Insurance Group

In related news, 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 transaction of $4,364,490.00. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at approximately $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Stock Up 0.3%

HIG stock opened at $124.37 on Monday. 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 stock has a market capitalization of $34.97 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.20 and a beta of 0.69. The business has a 50-day moving average of $131.43 and a 200-day moving average of $126.50. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The company had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.02 billion. During the same period in the prior year, the firm earned $2.50 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors 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 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is 18.86%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HIG. Barclays dropped their price target on The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday, July 7th. Piper Sandler raised their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Wall Street Zen raised The Hartford Insurance Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, Morgan Stanley upped their price objective on The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $140.07.

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.