The Hartford Insurance Group, Inc. $HIG Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 1.8% in the 2nd quarter, Holdings Channel reports. The firm owned 13,848 shares of the insurance provider’s stock after purchasing an additional 251 shares during the period. Sequoia Financial Advisors LLC’s holdings in The Hartford Insurance Group were worth $1,757,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vest Financial LLC increased its holdings in The Hartford Insurance Group by 2.0% in the 2nd quarter. Vest Financial LLC now owns 333,875 shares of the insurance provider’s stock valued at $42,359,000 after purchasing an additional 6,397 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in The Hartford Insurance Group in the 2nd quarter valued at approximately $220,000. MGO One Seven LLC increased its holdings in The Hartford Insurance Group by 29.3% in the 2nd quarter. MGO One Seven LLC now owns 5,986 shares of the insurance provider’s stock valued at $759,000 after purchasing an additional 1,358 shares during the last quarter. Sharp Financial Services LLC grew its stake in shares of The Hartford Insurance Group by 8.3% in the second quarter. Sharp Financial Services LLC now owns 2,278 shares of the insurance provider’s stock worth $289,000 after acquiring an additional 175 shares in the last quarter. Finally, CWM LLC grew its stake in shares of The Hartford Insurance Group by 4.8% in the second quarter. CWM LLC now owns 15,849 shares of the insurance provider’s stock worth $2,011,000 after acquiring an additional 720 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on HIG shares. Piper Sandler boosted their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. Raymond James Financial restated an “outperform” rating and issued a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Wall Street Zen upgraded shares of The Hartford Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Evercore ISI boosted their price target on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Finally, Morgan Stanley boosted their price target on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.07.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $123.86 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average price of $131.51 and a 200 day moving average price of $126.47. The company has a market cap of $34.83 billion, a P/E ratio of 11.23, a PEG ratio of 1.24 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 Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the previous year, the firm posted $2.50 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

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 $0.52 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s payout ratio is 18.86%.

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.