Ramirez Asset Management Inc. Boosts Stock Position in The Hartford Insurance Group, Inc. $HIG

by · The Markets Daily

Ramirez Asset Management Inc. boosted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 124.4% during the 2nd quarter, Holdings Channel reports. The firm owned 21,140 shares of the insurance provider’s stock after acquiring an additional 11,720 shares during the period. Ramirez Asset Management Inc.’s holdings in The Hartford Insurance Group were worth $2,682,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Square Financial Group LLC boosted its position in The Hartford Insurance Group by 146.2% in the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 155 shares during the last quarter. Center for Financial Planning Inc. purchased a new position in shares of The Hartford Insurance Group during the 1st quarter valued at $33,000. Meeder Asset Management Inc. lifted its position in shares of The Hartford Insurance Group by 123.8% during the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock valued at $36,000 after buying an additional 161 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of The Hartford Insurance Group during the 1st quarter valued at $37,000. Finally, Signature Resources Capital Management LLC purchased a new position in shares of The Hartford Insurance Group during the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Transactions at The Hartford Insurance Group

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

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $130.08 on Friday. The firm has a market capitalization of $36.57 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.28 and a beta of 0.69. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The stock’s 50-day simple moving average is $131.34 and its two-hundred day simple moving average is $126.27. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17.

The Hartford Insurance Group (NYSE:HIG – Get Free Report) last announced its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.58. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 EPS. As a group, equities analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, September 2nd. The Hartford Insurance Group’s dividend payout ratio is currently 18.86%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HIG. Citigroup began coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price target on the stock. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a report on Thursday. UBS Group increased their price objective on The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wolfe Research began coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.07.

Check Out Our Latest Stock Report on The Hartford Insurance Group

The Hartford Insurance Group Profile

(Free Report)

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.

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