IFM Investors Pty Ltd Reduces Stake in The Hartford Insurance Group, Inc. $HIG

IFM Investors Pty Ltd lowered its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 75,380 shares of the insurance provider’s stock after selling 1,211 shares during the quarter. IFM Investors Pty Ltd’s holdings in The Hartford Insurance Group were worth $9,563,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC raised its position in shares of The Hartford Insurance Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Center for Financial Planning Inc. bought a new position in shares of The Hartford Insurance Group in the 1st quarter worth approximately $33,000. Meeder Asset Management Inc. raised its position in shares of The Hartford Insurance Group by 123.8% in the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 161 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of The Hartford Insurance Group in the 1st quarter worth approximately $37,000. Finally, Golden State Wealth Management LLC raised its position in shares of The Hartford Insurance Group by 167.8% in the 1st 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 in the last quarter. Institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

HIG has been the subject of several research reports. Piper Sandler increased their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Wolfe Research began coverage on The Hartford Insurance Group in a research report on Tuesday. They issued a “peer perform” rating for the company. Citigroup began coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price objective for the company. Wall Street Zen raised The Hartford Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, UBS Group raised their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $138.00.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Beth Ann Costello sold 35,340 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Stock Down 0.4%

HIG stock opened at $130.90 on Friday. The business has a 50 day moving average of $128.62 and a 200 day moving average of $124.92. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17. The firm has a market cap of $36.81 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The business had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the business posted $2.50 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. On average, research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 18.86%.

The Hartford Insurance Group 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.