Ceredex Value Advisors LLC Sells 30,755 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Ceredex Value Advisors LLC has sold 30,755 shares of The Hartford Insurance Group, reducing its holdings by 11.6% to a total of 235,295 shares worth approximately $29.1 million.
• The Hartford Insurance Group reported $3.41 earnings per share, surpassing analysts' expectations, though its revenue of $6.99 billion slightly missed estimates.
• In addition to its earnings, the company announced a quarterly dividend of $0.52 per share with a dividend yield of 1.6%, payable on October 2nd.

Ceredex Value Advisors LLC decreased its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 11.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 235,295 shares of the insurance provider's stock after selling 30,755 shares during the period. Ceredex Value Advisors LLC owned approximately 0.08% of The Hartford Insurance Group worth $29,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Park Square Financial Group LLC grew its holdings in The Hartford Insurance Group by 146.2% during the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after buying an additional 155 shares during the last quarter. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Insurance Group in the 4th quarter worth $33,000. Center for Financial Planning Inc. purchased a new position in shares of The Hartford Insurance Group in the 1st quarter worth $33,000. Itau Unibanco Holding S.A. acquired a new stake in The Hartford Insurance Group in the 4th quarter valued at $35,000. Finally, Meeder Asset Management Inc. increased its holdings in The Hartford Insurance Group by 123.8% in the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 161 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Stock Up 0.1%

The Hartford Insurance Group stock traded up $0.09 during mid-day trading on Friday, reaching $132.31. The company's stock had a trading volume of 1,142,839 shares, compared to its average volume of 1,632,582. The company has a market capitalization of $37.20 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 1.29 and a beta of 0.67. 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 business's 50 day simple moving average is $126.24 and its 200 day simple moving average is $122.98. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $134.93.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The company had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The Hartford Insurance Group's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.50 EPS. As a group, research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The Hartford Insurance Group's payout ratio is presently 18.86%.

Insider Transactions at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the transaction, the chief financial officer directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HIG has been the subject of a number of research reports. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Morgan Stanley lifted their price target on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods lifted their price objective on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Cantor Fitzgerald started coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an "overweight" rating and a $152.00 price objective on the stock. Finally, Barclays decreased 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. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.64.

The Hartford Insurance Group Company 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.