Wealthfront Advisers LLC Invests $7.81 Million in The Hartford Insurance Group, Inc. $HIG

Wealthfront Advisers LLC purchased a new position in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 58,953 shares of the insurance provider’s stock, valued at approximately $7,812,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HIG. Y Intercept Hong Kong Ltd bought a new stake in The Hartford Insurance Group in the first quarter valued at $4,131,000. Abacus Wealth Partners LLC bought a new position in shares of The Hartford Insurance Group during the fourth quarter worth about $1,971,000. SEB Asset Management AB acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter worth about $69,310,000. Strs Ohio increased its holdings in shares of The Hartford Insurance Group by 4.7% in the 1st quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock worth $26,994,000 after acquiring an additional 8,890 shares during the period. Finally, Arbejdsmarkedets Tillaegspension lifted its position in The Hartford Insurance Group by 4.6% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock valued at $25,303,000 after purchasing an additional 8,250 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Performance

HIG stock opened at $137.83 on Thursday. The company has a 50-day simple moving average of $137.25 and a 200 day simple moving average of $136.62. The company has a market capitalization of $37.33 billion, a P/E ratio of 8.91, a PEG ratio of 3.41 and a beta of 0.46. 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 Hartford Insurance Group, Inc. has a fifty-two week low of $120.33 and a fifty-two week high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the company earned $3.41 EPS. The Hartford Insurance Group’s quarterly revenue was up 8.1% on a year-over-year basis. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued a $0.60 dividend. 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 15.51%.

Analysts Set New Price Targets

HIG has been the subject of a number of analyst reports. Barclays reduced their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Royal Bank Of Canada lifted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Monday, July 27th. UBS Group reduced their price objective on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Wells Fargo & Company decreased their price objective on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, July 27th. Finally, Piper Sandler restated a “neutral” rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $149.67.

Insider Activity at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

About The Hartford Insurance Group

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.