Wealth Alliance LLC Boosts Stake in The Hartford Insurance Group, Inc. $HIG

Wealth Alliance LLC grew its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 34.4% during the second quarter, HoldingsChannel reports. The fund owned 2,199 shares of the insurance provider’s stock after acquiring an additional 563 shares during the quarter. Wealth Alliance LLC’s holdings in The Hartford Insurance Group were worth $279,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in HIG. Atlas Capital Advisors Inc. raised its holdings in shares of 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 worth $797,000 after buying an additional 3,140 shares during the last quarter. Burns Matteson Capital Management LLC purchased a new stake in shares of The Hartford Insurance Group during the first quarter valued at $506,000. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of The Hartford Insurance Group by 93.1% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,614 shares of the insurance provider’s stock valued at $695,000 after acquiring an additional 2,707 shares during the period. Milestone Asset Management Group LLC purchased a new position in The Hartford Insurance Group in the 1st quarter worth $390,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in The Hartford Insurance Group by 61.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 125,825 shares of the insurance provider’s stock worth $15,727,000 after acquiring an additional 47,919 shares during the period. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Trading Up 0.7%

The Hartford Insurance Group stock opened at $133.61 on Friday. The firm has a market cap of $37.23 billion, a PE ratio of 10.92, a P/E/G ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.17. The stock’s 50 day simple moving average is $129.42 and its two-hundred day simple moving average is $127.87. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating 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 $1.05 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period in the previous year, the firm earned $2.53 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the transaction, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,252,344. This represents a 29.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on HIG shares. Cantor Fitzgerald assumed coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 price objective for the company. JPMorgan Chase & Co. increased their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Wolfe Research began coverage on shares of The Hartford Insurance Group in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. 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 report on Wednesday, October 8th. Finally, Piper Sandler raised their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.14.

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.