Bayforest Capital Ltd Has $237,000 Stake in The Hartford Insurance Group, Inc. $HIG

by · The Markets Daily

Bayforest Capital Ltd reduced its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 39.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,869 shares of the insurance provider’s stock after selling 1,215 shares during the period. Bayforest Capital Ltd’s holdings in The Hartford Insurance Group were worth $237,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Park Square Financial Group LLC raised its position in shares of The Hartford Insurance Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Center for Financial Planning Inc. acquired a new position in The Hartford Insurance Group during the 1st quarter valued at about $33,000. Meeder Asset Management Inc. boosted its stake in 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 purchasing an additional 161 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in The Hartford Insurance Group during the 1st quarter valued at about $37,000. Finally, Signature Resources Capital Management LLC purchased a new position in shares of The Hartford Insurance Group in the 2nd quarter worth approximately $38,000. 93.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. The trade was a 31.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.

The Hartford Insurance Group Stock Down 3.7%

NYSE HIG opened at $123.86 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $34.83 billion, a PE ratio of 11.23, a PEG ratio of 1.24 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $135.17. The business’s 50-day moving average is $131.51 and its 200 day moving average is $126.47.

The Hartford Insurance Group (NYSE:HIG – Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.58. The business had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 EPS. Sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Tuesday, September 2nd. The Hartford Insurance Group’s payout ratio is presently 18.86%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HIG. Wall Street Zen upgraded The Hartford Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Evercore ISI increased their target price on The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Morgan Stanley increased their price objective on The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their price target on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.07.

Read Our Latest Analysis on HIG

The Hartford Insurance Group Company 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.

See Also

Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report).