BayBridge Capital Group LLC Purchases 7,575 Shares of The Hartford Insurance Group, Inc. $HIG

BayBridge Capital Group LLC raised its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 251.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,590 shares of the insurance provider’s stock after acquiring an additional 7,575 shares during the period. BayBridge Capital Group LLC’s holdings in The Hartford Insurance Group were worth $1,403,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HIG. First Pacific Financial bought a new stake in shares of The Hartford Insurance Group during the first quarter valued at approximately $26,000. MidFirst Bank bought a new position in The Hartford Insurance Group in the second quarter worth $26,000. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group during the third quarter worth $26,000. Navigoe LLC acquired a new stake in The Hartford Insurance Group during the second quarter worth $27,000. Finally, Phillip James Consulting Co. bought a new stake in The Hartford Insurance Group in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Trading Down 1.9%

Shares of The Hartford Insurance Group stock opened at $135.71 on Wednesday. The stock has a market capitalization of $36.76 billion, a P/E ratio of 8.77, a price-to-earnings-growth ratio of 2.43 and a beta of 0.45. 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 company has a 50-day simple moving average of $139.31 and a 200 day simple moving average of $136.36. The Hartford Insurance Group, Inc. has a 12-month low of $120.33 and a 12-month high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.41 earnings per share. Research analysts expect that The Hartford Insurance Group, Inc. will post 12.8 earnings per share 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. Investors of record on Tuesday, September 1st will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is 15.51%.

Wall Street Analyst Weigh In

HIG has been the subject of a number of analyst reports. Cantor Fitzgerald raised their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Mizuho upped their target price on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. increased their price target on shares of 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. Wells Fargo & Company decreased their price objective on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, July 27th. Finally, Barclays lowered their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $149.67.

The Hartford Insurance Group Company 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.