Charles Schwab Investment Management Inc. Sells 22,149 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in The Hartford Insurance Group by 1.2% to 1,891,765 shares after selling 22,149 shares in the first quarter, now holding approximately 0.67% of the company worth $234 million.
• The Hartford Insurance Group's CFO, Beth Ann Costello, sold 35,340 shares for about $4.36 million, representing a 31.3% decrease in her position.
• The Hartford recently announced a quarterly dividend of $0.52 per share, translating to an annualized dividend yield of 1.6%.

Charles Schwab Investment Management Inc. lessened its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,891,765 shares of the insurance provider's stock after selling 22,149 shares during the period. Charles Schwab Investment Management Inc. owned about 0.67% of The Hartford Insurance Group worth $234,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Park Square Financial Group LLC raised its stake in The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after buying an additional 155 shares during the last quarter. Center for Financial Planning Inc. bought a new position in The Hartford Insurance Group during the first quarter worth $33,000. Meeder Asset Management Inc. raised its stake in The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after buying an additional 161 shares during the last quarter. Spurstone Advisory Services LLC bought a new position in The Hartford Insurance Group during the fourth quarter worth $33,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in The Hartford Insurance Group during the first quarter worth $37,000. Institutional investors and hedge funds own 93.42% of the company's stock.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays lowered 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. Morgan Stanley raised 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 report on Wednesday, July 30th. Wells Fargo & Company lifted their price objective on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Raymond James Financial reiterated an "outperform" rating and set a $140.00 price objective (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $136.42.

The Hartford Insurance Group Price Performance

NYSE:HIG traded up $0.71 during mid-day trading on Tuesday, hitting $129.05. 927,559 shares of the stock traded hands, compared to its average volume of 1,598,245. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $132.09. The company has a market cap of $36.28 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.26 and a beta of 0.67. The business's 50-day moving average price is $124.81 and its 200 day moving average price is $121.41.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $7.02 billion. During the same quarter in the prior year, the company earned $2.50 EPS. The firm's revenue was up 7.7% on a year-over-year basis. On average, analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 18.86%.

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.