DekaBank Deutsche Girozentrale Sells 5,645 Shares of The Hartford Insurance Group, Inc. $HIG

DekaBank Deutsche Girozentrale reduced its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 138,735 shares of the insurance provider’s stock after selling 5,645 shares during the period. DekaBank Deutsche Girozentrale’s holdings in The Hartford Insurance Group were worth $17,263,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HIG. Woodline Partners LP grew its position in shares of The Hartford Insurance Group by 28,218.5% during the 1st quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock valued at $93,763,000 after acquiring an additional 755,128 shares during the period. Nuveen LLC bought a new position in shares of The Hartford Insurance Group during the 1st quarter valued at approximately $87,516,000. Bahl & Gaynor Inc. grew its position in shares of The Hartford Insurance Group by 47.0% during the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock valued at $264,972,000 after acquiring an additional 684,390 shares during the period. Amundi boosted its holdings in The Hartford Insurance Group by 27.4% in the 1st quarter. Amundi now owns 1,943,498 shares of the insurance provider’s stock worth $239,905,000 after buying an additional 417,951 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in The Hartford Insurance Group by 38.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,493,077 shares of the insurance provider’s stock worth $189,427,000 after buying an additional 414,216 shares during the period. 93.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Piper Sandler raised their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Wells Fargo & Company raised their price objective on shares of The Hartford Insurance Group from $139.00 to $147.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. 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 objective for the company. Finally, Morgan Stanley raised their price objective on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.07.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm’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. Company insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock opened at $124.98 on Thursday. The firm’s fifty day moving average price is $131.14 and its 200-day moving average price is $126.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $35.14 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 1.21 and a beta of 0.69. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.17.

The Hartford Insurance Group (NYSE:HIG) 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 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 business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $2.50 EPS. On average, equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Company 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.