Benson Investment Management Company Inc. Sells 2,363 Shares of The Hartford Insurance Group, Inc. $HIG

Benson Investment Management Company Inc. reduced its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,101 shares of the insurance provider’s stock after selling 2,363 shares during the quarter. The Hartford Insurance Group comprises about 2.1% of Benson Investment Management Company Inc.’s portfolio, making the stock its 20th biggest position. Benson Investment Management Company Inc.’s holdings in The Hartford Insurance Group were worth $5,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the business. Golden State Wealth Management LLC raised its holdings in The Hartford Insurance Group by 167.8% in the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 198 shares during the period. Sharp Financial Services LLC acquired a new stake in shares of The Hartford Insurance Group during the first quarter worth $260,000. Oppenheimer & Co. Inc. lifted its position in The Hartford Insurance Group by 86.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider’s stock worth $533,000 after buying an additional 2,000 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in The Hartford Insurance Group during the 1st quarter worth about $233,000. Finally, Aurora Investment Counsel bought a new stake in The Hartford Insurance Group during the 1st quarter worth about $2,434,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the sale, the chief financial officer owned 77,574 shares of the company’s stock, 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. Insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Price Performance

HIG stock opened at $128.89 on Friday. The company has a 50 day simple moving average of $131.46 and a 200 day simple moving average of $126.32. The stock has a market cap of $36.24 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.26 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $135.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.58. The business had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 EPS. Research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. The Hartford Insurance Group’s payout ratio is presently 18.86%.

Analyst Ratings Changes

Several equities research analysts have commented on HIG shares. Evercore ISI boosted their price target on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods lifted their price objective on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Weiss Ratings reissued a “buy (a-)” rating on shares of The Hartford Insurance Group in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Wolfe Research initiated coverage on shares of The Hartford Insurance Group in a research report on Tuesday, September 16th. They issued a “peer perform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.07.

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.