Proficio Capital Partners LLC Takes Position in The Hartford Insurance Group, Inc. $HIG

Proficio Capital Partners LLC purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,929 shares of the insurance provider’s stock, valued at approximately $786,000.

Several other institutional investors have also bought and sold shares of HIG. Ashton Thomas Private Wealth LLC acquired a new position in The Hartford Insurance Group in the first quarter valued at about $207,000. NewEdge Advisors LLC increased its holdings in The Hartford Insurance Group by 1.6% during the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after purchasing an additional 886 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of The Hartford Insurance Group by 3.9% during the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock worth $21,297,000 after purchasing an additional 6,285 shares during the last quarter. HUB Investment Partners LLC increased its stake in shares of The Hartford Insurance Group by 9.8% in the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock valued at $878,000 after buying an additional 619 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of The Hartford Insurance Group by 25.5% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock valued at $24,488,000 after buying an additional 39,220 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the subject of several research reports. Cantor Fitzgerald raised their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Zacks Research lowered shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. JPMorgan Chase & Co. boosted their target price on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of The Hartford Insurance Group in a research note on Monday. Finally, Barclays reduced their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $149.67.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $139.95 on Thursday. The firm has a market cap of $37.91 billion, a P/E ratio of 9.05, a PEG ratio of 3.40 and a beta of 0.46. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The firm’s 50 day moving average price is $138.10 and its two-hundred day moving average price is $136.60.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.41 EPS. On average, analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared 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. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 15.51%.

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.