Capital Fund Management S.A. Sells 28,520 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Capital Fund Management S.A. has reduced its stake in The Hartford Insurance Group by 28.4%, now holding 71,991 shares valued at approximately $8.9 million.
• The Hartford recently declared a quarterly dividend of $0.52, with a payout ratio of 18.86%, indicating a stable dividend policy.
• In Q2, The Hartford reported earnings of $3.41 per share, exceeding analysts' expectations, while revenue grew 7.7% year-over-year to $6.99 billion.

Capital Fund Management S.A. lessened its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 28.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,991 shares of the insurance provider's stock after selling 28,520 shares during the period. Capital Fund Management S.A.'s holdings in The Hartford Insurance Group were worth $8,907,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its stake in shares of The Hartford Insurance Group by 167.8% in the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 198 shares during the last quarter. Sharp Financial Services LLC purchased a new position in The Hartford Insurance Group during the 1st quarter valued at about $260,000. Oppenheimer & Co. Inc. increased its holdings in The Hartford Insurance Group by 86.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock valued at $533,000 after purchasing an additional 2,000 shares during the period. Concurrent Investment Advisors LLC purchased a new position in The Hartford Insurance Group during the 1st quarter valued at about $233,000. Finally, Aurora Investment Counsel purchased a new position in The Hartford Insurance Group during the 1st quarter valued at about $2,434,000. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Down 0.6%

HIG stock opened at $133.1370 on Friday. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $134.12. The business's 50 day moving average price is $125.46 and its two-hundred day moving average price is $122.29. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $37.43 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its 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 return on equity of 19.60% and a net margin of 11.83%.The firm had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the business earned $2.50 EPS. The business's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts forecast 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 will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is currently 18.86%.

Insider Activity at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the sale, the chief financial officer directly owned 77,574 shares of the company's stock, valued at $9,580,389. The trade was a 31.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HIG has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price target on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Wells Fargo & Company boosted their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Citigroup initiated coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price target on the stock. Morgan Stanley boosted their price target on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Finally, 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 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, The Hartford Insurance Group presently has an average rating of "Moderate Buy" and an average price target of $137.64.

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.

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