New Millennium Group LLC Grows Stake in The Hartford Insurance Group, Inc. $HIG

New Millennium Group LLC grew its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 3,533.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 654 shares of the insurance provider’s stock after purchasing an additional 636 shares during the quarter. New Millennium Group LLC’s holdings in The Hartford Insurance Group were worth $83,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Concurrent Investment Advisors LLC acquired a new stake in shares of The Hartford Insurance Group during the first quarter worth $233,000. Aurora Investment Counsel purchased a new position in The Hartford Insurance Group in the first quarter valued at $2,434,000. Ballentine Partners LLC increased its holdings in The Hartford Insurance Group by 12.2% in the first quarter. Ballentine Partners LLC now owns 28,906 shares of the insurance provider’s stock valued at $3,577,000 after buying an additional 3,134 shares in the last quarter. Atlas Capital Advisors Inc. increased its holdings in The Hartford Insurance Group by 95.1% in the first quarter. Atlas Capital Advisors Inc. now owns 6,443 shares of the insurance provider’s stock valued at $797,000 after buying an additional 3,140 shares in the last quarter. Finally, Burns Matteson Capital Management LLC purchased a new position in The Hartford Insurance Group in the first quarter valued at $506,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. UBS Group upped their price objective on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Citigroup assumed coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price objective for the company. Morgan Stanley upped their price objective on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Wall Street Zen cut shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Cantor Fitzgerald assumed coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, The Hartford Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $140.14.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $127.89 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.31. The firm has a market capitalization of $35.64 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 1.19 and a beta of 0.70. The company’s 50-day moving average is $129.74 and its two-hundred day moving average is $127.39. The Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the business posted $2.53 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.60 per share. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 19.61%.

Insider Buying and Selling

In other The Hartford Insurance Group news, 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the transaction, the executive vice president directly owned 18,400 shares in the company, valued at $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.60% of the stock is owned by corporate insiders.

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.