Yousif Capital Management LLC Trims Stock Position in The Hartford Insurance Group, Inc. $HIG

Yousif Capital Management LLC lessened its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 38,089 shares of the insurance provider’s stock after selling 1,347 shares during the quarter. Yousif Capital Management LLC’s holdings in The Hartford Insurance Group were worth $4,832,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. NorthRock Partners LLC lifted its position in shares of The Hartford Insurance Group by 2.6% during the 1st quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider’s stock worth $395,000 after buying an additional 80 shares during the last quarter. Wayfinding Financial LLC increased its holdings in shares of The Hartford Insurance Group by 3.0% in the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider’s stock valued at $355,000 after acquiring an additional 84 shares during the period. Wealthspire Advisors LLC increased its holdings in shares of The Hartford Insurance Group by 3.2% in the 1st quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider’s stock valued at $356,000 after acquiring an additional 88 shares during the period. BayBridge Capital Group LLC increased its holdings in shares of The Hartford Insurance Group by 2.4% in the 2nd quarter. BayBridge Capital Group LLC now owns 3,776 shares of the insurance provider’s stock valued at $479,000 after acquiring an additional 89 shares during the period. Finally, GSB Wealth Management LLC increased its holdings in shares of The Hartford Insurance Group by 2.4% in the 2nd quarter. GSB Wealth Management LLC now owns 3,849 shares of the insurance provider’s stock valued at $488,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

HIG has been the topic of a number of recent research reports. Evercore ISI lifted their target price 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. Cantor Fitzgerald initiated coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 target price on the stock. UBS Group lifted their target price on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Morgan Stanley lifted their target price on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. 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’s stock. Based on data from MarketBeat.com, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and a consensus target price of $140.07.

Insiders Place Their Bets

In other news, EVP Donald Christian Hunt sold 2,124 shares of the company’s 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 SEC, which can be accessed through the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of the company’s 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 transaction, the chief financial officer directly 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. Corporate insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $131.15 on Wednesday. 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 fifty-two week low of $104.93 and a fifty-two week high of $135.17. The stock has a market cap of $36.87 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.23 and a beta of 0.69. The firm’s fifty day simple moving average is $131.58 and its 200-day simple moving average is $126.45.

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

The Hartford Insurance Group Dividend Announcement

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

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.