Integrated Wealth Concepts LLC Grows Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Integrated Wealth Concepts LLC grew its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,822 shares of the insurance provider’s stock after buying an additional 149 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in The Hartford Insurance Group were worth $844,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its stake in The Hartford Insurance Group by 167.8% during the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider’s stock worth $39,000 after buying an additional 198 shares during the period. Sharp Financial Services LLC purchased a new stake in The Hartford Insurance Group during the first quarter worth approximately $260,000. Oppenheimer & Co. Inc. grew its stake in The Hartford Insurance Group by 86.7% during the first quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider’s stock worth $533,000 after buying an additional 2,000 shares during the period. Concurrent Investment Advisors LLC purchased a new position in shares of The Hartford Insurance Group in the first quarter valued at $233,000. Finally, Aurora Investment Counsel purchased a new position in shares of The Hartford Insurance Group in the first quarter valued at $2,434,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HIG shares. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. JPMorgan Chase & Co. upped their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Tuesday, July 29th. Raymond James Financial restated an “outperform” rating and issued a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Cantor Fitzgerald started coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 target price for the company. Finally, Wells Fargo & Company upped their target price on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $138.00.

Insiders Place Their Bets

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the sale, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

The Hartford Insurance Group Trading Up 1.6%

HIG opened at $133.28 on Friday. The stock has a market capitalization of $37.47 billion, a PE ratio of 12.08, a P/E/G ratio of 1.27 and a beta of 0.72. The firm’s fifty day moving average price is $127.58 and its 200 day moving average price is $124.36. 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 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 posted its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.50 earnings per share. As a group, research analysts expect 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 will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group’s dividend 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.