Advisors Asset Management Inc. Has $2.16 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Advisors Asset Management Inc. reduced its holdings in The Hartford Insurance Group by 16.2% in Q1, selling 3,366 shares to end with 17,455 shares valued at $2,160,000.
• Multiple investors, including Amundi and Adage Capital Partners, significantly increased their positions, highlighting growing institutional interest with over 93% of shares owned by institutional investors.
• The Hartford recently reported better-than-expected earnings with $3.41 EPS, beating forecasts, alongside a quarterly dividend announcement of $0.52 per share.

Advisors Asset Management Inc. cut its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 16.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,455 shares of the insurance provider's stock after selling 3,366 shares during the period. Advisors Asset Management Inc.'s holdings in The Hartford Insurance Group were worth $2,160,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HIG. GAMMA Investing LLC boosted its holdings in shares of The Hartford Insurance Group by 14,049.5% in the first quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock valued at $1,761,930,000 after acquiring an additional 1,413,945 shares in the last quarter. Nuveen LLC bought a new position in shares of The Hartford Insurance Group in the first quarter valued at approximately $87,516,000. Bahl & Gaynor Inc. boosted its holdings in shares of The Hartford Insurance Group by 47.0% in the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock valued at $264,972,000 after acquiring an additional 684,390 shares in the last quarter. Amundi boosted its holdings in shares of The Hartford Insurance Group by 27.4% in the first quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock valued at $239,905,000 after acquiring an additional 417,951 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of The Hartford Insurance Group by 11.3% in the first quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider's stock valued at $487,077,000 after acquiring an additional 398,950 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research firms recently commented on HIG. Citigroup began coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $138.00 target price for the company. Cantor Fitzgerald began coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an "overweight" rating and a $152.00 target price for the company. Raymond James Financial reissued an "outperform" rating and set a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Barclays cut their target price on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Finally, Wells Fargo & Company increased their target price on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $138.00.

The Hartford Insurance Group Stock Down 0.4%

HIG stock traded down $0.54 during midday trading on Friday, reaching $132.68. The company had a trading volume of 250,515 shares, compared to its average volume of 1,617,496. 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 current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $37.30 billion, a P/E ratio of 12.03, a PEG ratio of 1.27 and a beta of 0.72. The company has a 50 day moving average of $127.58 and a two-hundred day moving average of $124.36.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results 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 Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The company's revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be given a $0.52 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The Hartford Insurance Group's dividend payout ratio is presently 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.