Massachusetts Financial Services Co. MA Sells 382,694 Shares of The Hartford Insurance Group, Inc. $HIG

Massachusetts Financial Services Co. MA trimmed its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 10.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,126,404 shares of the insurance provider’s stock after selling 382,694 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in The Hartford Insurance Group were worth $396,647,000 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. Geode Capital Management LLC raised its stake in shares of The Hartford Insurance Group by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 7,467,018 shares of the insurance provider’s stock worth $943,448,000 after acquiring an additional 57,539 shares in the last quarter. Northern Trust Corp grew its holdings in The Hartford Insurance Group by 11.3% in the first quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider’s stock worth $487,077,000 after purchasing an additional 398,950 shares during the last quarter. Bahl & Gaynor Inc. increased its position in shares of 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 purchasing an additional 684,390 shares in the last quarter. Amundi lifted its holdings in shares of The Hartford Insurance Group by 27.4% during the 1st quarter. Amundi now owns 1,943,498 shares of the insurance provider’s stock valued at $239,905,000 after purchasing an additional 417,951 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its position in shares of The Hartford Insurance Group by 0.3% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,605,760 shares of the insurance provider’s stock worth $203,723,000 after purchasing an additional 5,545 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Performance

HIG opened at $133.90 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 Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.27. The firm has a 50 day moving average of $129.47 and a two-hundred day moving average of $128.00. The firm has a market capitalization of $37.31 billion, a PE ratio of 10.94, a P/E/G ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the prior year, the business earned $2.53 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio (DPR) is 19.61%.

Insider Activity

In other news, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the sale, the executive vice president directly owned 18,400 shares in the company, valued at approximately $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Evercore ISI upped their price objective on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Wolfe Research began coverage on shares of The Hartford Insurance Group in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. UBS Group upped their price target on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned 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 $140.14.

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.