The Hartford Insurance Group, Inc. $HIG Stock Position Decreased by HighTower Advisors LLC

HighTower Advisors LLC cut its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 19.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,076 shares of the insurance provider’s stock after selling 16,679 shares during the period. HighTower Advisors LLC’s holdings in The Hartford Insurance Group were worth $9,794,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after purchasing an additional 73,835,976 shares in the last quarter. State Street Corp raised its stake in shares of The Hartford Insurance Group by 0.4% in the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock valued at $2,146,749,000 after acquiring an additional 55,983 shares in the last quarter. Invesco Ltd. raised its stake in shares of The Hartford Insurance Group by 10.3% in the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock valued at $711,141,000 after acquiring an additional 496,821 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of The Hartford Insurance Group by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider’s stock valued at $606,956,000 after acquiring an additional 81,712 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of The Hartford Insurance Group by 3.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,376,931 shares of the insurance provider’s stock valued at $450,449,000 after acquiring an additional 108,765 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the sale, the executive vice president owned 25,392 shares of the company’s stock, valued at $3,505,365.60. This trade represents a 61.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HIG. Bank of America raised their price objective on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Citigroup raised their price objective on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday, March 30th. Morgan Stanley raised their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Finally, Cantor Fitzgerald cut their price objective on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.31.

The Hartford Insurance Group Stock Performance

HIG opened at $136.15 on Tuesday. The firm has a market capitalization of $37.32 billion, a P/E ratio of 9.57, a price-to-earnings-growth ratio of 2.45 and a beta of 0.50. The stock’s 50 day moving average price is $135.71 and its two-hundred day moving average price is $135.99. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 12-month low of $119.61 and a 12-month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The business had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $2.20 EPS. On average, equities analysts forecast that The Hartford Insurance Group, Inc. will post 13.14 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 16.87%.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.