Interchange Capital Partners LLC Sells 141 Shares of The Hartford Insurance Group, Inc. $HIG

Interchange Capital Partners LLC cut its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,077 shares of the insurance provider’s stock after selling 141 shares during the period. Interchange Capital Partners LLC’s holdings in The Hartford Insurance Group were worth $390,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, CFO Beth Ann Costello sold 35,340 shares of the firm’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 transaction of $4,364,490.00. Following the sale, the chief financial officer owned 77,574 shares of the company’s stock, valued at $9,580,389. This trade represents a 31.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group 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 company insiders.

The Hartford Insurance Group Stock Performance

HIG opened at $125.03 on Monday. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.17. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $35.15 billion, a PE ratio of 11.34, a P/E/G ratio of 1.21 and a beta of 0.69. The firm has a 50 day moving average of $130.90 and a two-hundred day moving average of $126.95.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS 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 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 revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $2.50 EPS. On average, analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HIG. Raymond James Financial restated 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. JPMorgan Chase & Co. raised their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Piper Sandler raised their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Wells Fargo & Company raised their price target on shares of The Hartford Insurance Group from $139.00 to $147.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Finally, Wolfe Research began coverage on shares of The Hartford Insurance Group in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.07.

About The Hartford Insurance Group

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.