SG Americas Securities LLC Sells 57,584 Shares of The Hartford Insurance Group, Inc. $HIG

SG Americas Securities LLC cut its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 44.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,235 shares of the insurance provider’s stock after selling 57,584 shares during the period. SG Americas Securities LLC’s holdings in The Hartford Insurance Group were worth $9,164,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Woodline Partners LP increased its stake in The Hartford Insurance Group by 28,218.5% in the 1st quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock valued at $93,763,000 after buying an additional 755,128 shares during the last quarter. Nuveen LLC bought a new position in shares of The Hartford Insurance Group in the 1st quarter valued at about $87,516,000. Bahl & Gaynor Inc. increased its position in shares of The Hartford Insurance Group by 47.0% in the first 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 last quarter. Amundi increased its position in shares of The Hartford Insurance Group by 27.4% in the first quarter. Amundi now owns 1,943,498 shares of the insurance provider’s stock valued at $239,905,000 after acquiring an additional 417,951 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings 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 acquiring an additional 414,216 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HIG shares. UBS Group raised their price target on 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. JPMorgan Chase & Co. raised their target price on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Wolfe Research began coverage on shares of The Hartford Insurance Group in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Finally, Citigroup initiated coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.14.

Insider Buying and Selling

In other news, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the transaction, the executive vice president owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. This represents a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Trading Up 0.2%

HIG stock opened at $133.90 on Monday. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.27. The stock has a market cap of $37.31 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 1.19 and a beta of 0.69. The company has a fifty day moving average price of $129.47 and a two-hundred day moving average price of $128.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The Hartford Insurance Group’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.53 EPS. Equities 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 given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.8%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 19.61%.

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.