Gateway Wealth Partners LLC Invests $576,000 in The Hartford Insurance Group, Inc. $HIG

Gateway Wealth Partners LLC bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,257 shares of the insurance provider’s stock, valued at approximately $576,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp raised its holdings in shares of The Hartford Insurance Group by 56.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 16,755 shares of the insurance provider’s stock worth $2,266,000 after purchasing an additional 6,041 shares during the period. Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of The Hartford Insurance Group during the 1st quarter worth about $543,000. Waverly Advisors LLC increased its position in The Hartford Insurance Group by 69.7% during the 1st quarter. Waverly Advisors LLC now owns 3,337 shares of the insurance provider’s stock worth $451,000 after purchasing an additional 1,371 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in The Hartford Insurance Group by 740.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 92,522 shares of the insurance provider’s stock worth $12,512,000 after purchasing an additional 81,507 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in The Hartford Insurance Group by 13.7% in the first quarter. Renaissance Technologies LLC now owns 110,600 shares of the insurance provider’s stock valued at $14,956,000 after buying an additional 13,300 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Buying and Selling at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president directly owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

The Hartford Insurance Group Trading Down 1.9%

HIG opened at $142.95 on Friday. The firm’s 50 day moving average is $134.40 and its 200-day moving average is $135.67. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $38.72 billion, a P/E ratio of 9.24, a P/E/G ratio of 3.95 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The business had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period last year, the business earned $3.41 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Analysts expect that The Hartford Insurance Group, Inc. will post 12.77 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 15.51%.

Analyst Ratings Changes

Several equities research analysts have issued reports on HIG shares. UBS Group decreased their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Piper Sandler reissued a “neutral” rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Bank of America lifted their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Zacks Research cut shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, Wells Fargo & Company lowered their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Monday. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, The Hartford Insurance Group has an average rating of “Hold” and an average target price of $149.06.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.