Ameritas Advisory Services LLC Cuts Position in The Hartford Insurance Group, Inc. $HIG

Ameritas Advisory Services LLC trimmed its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 77.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,321 shares of the insurance provider's stock after selling 7,863 shares during the period. Ameritas Advisory Services LLC's holdings in The Hartford Insurance Group were worth $308,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in HIG. First Pacific Financial purchased a new position in The Hartford Insurance Group during the 1st quarter worth $26,000. MidFirst Bank purchased a new stake in shares of The Hartford Insurance Group during the second quarter worth about $26,000. Navigoe LLC purchased a new stake in shares of The Hartford Insurance Group during the second quarter worth about $27,000. Phillip James Consulting Co. acquired a new position in shares of The Hartford Insurance Group during the first quarter valued at about $29,000. Finally, Clearstead Trust LLC acquired a new stake in The Hartford Insurance Group in the 2nd quarter worth approximately $29,000. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Trading Up 0.9%

HIG stock opened at $137.62 on Tuesday. The company's 50-day simple moving average is $139.32 and its 200-day simple moving average is $136.25. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07. The firm has a market cap of $37.28 billion, a P/E ratio of 8.90, a PEG ratio of 2.39 and a beta of 0.45.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the previous year, the business earned $3.41 EPS. The Hartford Insurance Group's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 15.51%.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, September 4th. Cantor Fitzgerald increased their price objective on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Barclays reduced their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, June 12th. Wells Fargo & Company decreased their target price on The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, July 27th. Finally, Zacks Research upgraded The Hartford Insurance Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group has an average rating of "Hold" and a consensus price target of $149.67.

About The Hartford Insurance Group

The Hartford Insurance Group, operating as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits and related services primarily to businesses, individuals and organizations in the United States.

The company's business operations include commercial insurance for small and midsize businesses, large organizations and specialty industries. Its offerings include workers' compensation, commercial auto, general liability, property, professional liability and other coverage.

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