Tompkins Financial Corp Cuts Holdings in The Hartford Insurance Group, Inc. $HIG

Tompkins Financial Corp decreased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 65.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,048 shares of the insurance provider’s stock after selling 2,000 shares during the period. Tompkins Financial Corp’s holdings in The Hartford Insurance Group were worth $133,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HIG. Tidal Investments LLC grew its position in The Hartford Insurance Group by 2.4% in the fourth quarter. Tidal Investments LLC now owns 18,200 shares of the insurance provider’s stock worth $1,991,000 after acquiring an additional 426 shares in the last quarter. Two Sigma Investments LP grew its position in The Hartford Insurance Group by 454.4% in the fourth quarter. Two Sigma Investments LP now owns 72,939 shares of the insurance provider’s stock worth $7,980,000 after acquiring an additional 59,783 shares in the last quarter. Two Sigma Advisers LP grew its position in The Hartford Insurance Group by 205.6% in the fourth quarter. Two Sigma Advisers LP now owns 38,500 shares of the insurance provider’s stock worth $4,212,000 after acquiring an additional 25,900 shares in the last quarter. CSS LLC IL purchased a new position in The Hartford Insurance Group in the fourth quarter worth about $899,000. Finally, EDENTREE ASSET MANAGEMENT Ltd grew its position in The Hartford Insurance Group by 16.6% in the fourth quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 71,700 shares of the insurance provider’s stock worth $7,845,000 after acquiring an additional 10,190 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on HIG. UBS Group lifted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. JPMorgan Chase & Co. boosted their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Morgan Stanley boosted their target price on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Finally, Citigroup assumed coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Hold” and a consensus target price of $138.00.

The Hartford Insurance Group Stock Up 0.7%

HIG opened at $131.50 on Friday. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17. 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 company has a 50-day moving average price of $128.42 and a 200 day moving average price of $124.83. The company has a market cap of $36.97 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.26 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group’s dividend payout ratio is 18.86%.

Insider Activity

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

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.