The Hartford Insurance Group, Inc. $HIG Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC cut its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 15.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,211 shares of the insurance provider’s stock after selling 1,484 shares during the period. Thoroughbred Financial Services LLC’s holdings in The Hartford Insurance Group were worth $1,041,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in The Hartford Insurance Group by 5.9% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 69,678 shares of the insurance provider’s stock valued at $8,840,000 after buying an additional 3,908 shares during the period. Foundations Investment Advisors LLC acquired a new position in The Hartford Insurance Group during the 2nd quarter worth approximately $214,000. Advisors Capital Management LLC lifted its holdings in shares of The Hartford Insurance Group by 12.1% in the 2nd quarter. Advisors Capital Management LLC now owns 8,382 shares of the insurance provider’s stock valued at $1,063,000 after buying an additional 908 shares during the period. Donoghue Forlines LLC acquired a new position in The Hartford Insurance Group during the second quarter worth $2,757,000. Finally, Candriam S.C.A. raised its position in The Hartford Insurance Group by 19.1% in the second quarter. Candriam S.C.A. now owns 46,299 shares of the insurance provider’s stock worth $5,874,000 after acquiring an additional 7,429 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of research analyst reports. Evercore ISI boosted their price objective on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Cantor Fitzgerald started coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Wall Street Zen lowered The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.14.

Insiders Place Their Bets

In related 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 value of $284,339.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lori A. Rodden sold 7,841 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the transaction, the executive vice president directly owned 18,400 shares in the company, valued at $2,252,344. This trade represents 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 currently owned by corporate insiders.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $133.70 on Monday. The company has a market cap of $37.26 billion, a P/E ratio of 11.01, a P/E/G ratio of 1.19 and a beta of 0.69. The firm’s 50 day moving average is $129.47 and its two-hundred day moving average is $128.04. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.27. 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 Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating 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 firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the firm earned $2.53 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS 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. Investors of record on Monday, December 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 19.61%.

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.