The Hartford Insurance Group, Inc. $HIG Shares Sold by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. lowered its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 6.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,430 shares of the insurance provider’s stock after selling 5,290 shares during the period. Lockheed Martin Investment Management Co.’s holdings in The Hartford Insurance Group were worth $9,824,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HIG. Woodline Partners LP boosted its stake in The Hartford Insurance Group by 28,218.5% during the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock worth $93,763,000 after buying an additional 755,128 shares during the last quarter. Nuveen LLC acquired a new position in The Hartford Insurance Group during the first quarter worth $87,516,000. Bahl & Gaynor Inc. boosted its stake in The Hartford Insurance Group by 47.0% during the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock worth $264,972,000 after buying an additional 684,390 shares during the last quarter. Amundi boosted its stake in The Hartford Insurance Group by 27.4% during the first 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 last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in The Hartford Insurance Group by 38.4% during the second 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 last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

HIG stock opened at $123.36 on Friday. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $34.37 billion, a PE ratio of 10.08, a P/E/G ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.17. The business’s fifty day moving average price is $130.20 and its 200 day moving average price is $127.08.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.76. The firm had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.53 EPS. On average, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be issued a $0.60 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 16.99%.

Insider Buying and Selling at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction on Friday, September 5th. The stock was 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 SEC, which is accessible through this link. Also, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction 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 sale, the chief financial officer owned 77,574 shares in the company, valued at $9,580,389. This represents a 31.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HIG. Piper Sandler boosted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. Evercore ISI lifted their target price on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Wall Street Zen upgraded The Hartford Insurance Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Finally, Citigroup assumed coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $138.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $139.57.

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.