Wedbush Securities Inc. Sells 597 Shares of The Hartford Insurance Group, Inc. $HIG

Wedbush Securities Inc. cut its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 6.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,442 shares of the insurance provider’s stock after selling 597 shares during the quarter. Wedbush Securities Inc.’s holdings in The Hartford Insurance Group were worth $1,071,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of HIG. NorthRock Partners LLC raised its holdings in shares of The Hartford Insurance Group by 2.6% during the first quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider’s stock valued at $395,000 after purchasing an additional 80 shares during the period. Chicago Partners Investment Group LLC grew its stake in The Hartford Insurance Group by 3.6% in the second quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 85 shares during the period. Wealthspire Advisors LLC increased its holdings in shares of The Hartford Insurance Group by 3.2% during the first 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 in the last quarter. BayBridge Capital Group LLC raised its position in shares of The Hartford Insurance Group by 2.4% during the second quarter. BayBridge Capital Group LLC now owns 3,776 shares of the insurance provider’s stock worth $479,000 after purchasing an additional 89 shares during the period. Finally, GSB Wealth Management LLC raised its position in shares of The Hartford Insurance Group by 2.4% during the second quarter. GSB Wealth Management LLC now owns 3,849 shares of the insurance provider’s stock worth $488,000 after purchasing an additional 90 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Trading Up 1.1%

Shares of HIG stock opened at $129.29 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm has a market cap of $36.03 billion, a P/E ratio of 10.56, a PEG ratio of 1.19 and a beta of 0.69. The company has a 50 day moving average of $129.49 and a 200-day moving average of $127.62. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last released 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 Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The business had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the business posted $2.53 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The firm also recently announced 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 is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 19.61%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Raymond James Financial restated an “outperform” rating and set 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. Piper Sandler boosted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Wells Fargo & Company decreased their price target on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Keefe, Bruyette & Woods raised their price objective on The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Finally, UBS Group upped their target price on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One investment 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 stock. According to data from MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and an average target price of $140.14.

Insider Activity

In other news, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the sale, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.50% of the stock is owned by company insiders.

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.