Corient Private Wealth LP Has $7.74 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Corient Private Wealth LP cut its Hartford Insurance Group stake by 49.6% in the second quarter, selling 57,473 shares and retaining 58,393 shares valued at approximately $7.74 million.
• The Hartford reported quarterly EPS of $3.42, beating estimates of $3.16, while revenue rose 8.1% year over year to $7.26 billion.
• HIG shares opened at $133.20, below the analyst consensus price target of $149.07. The company declared a quarterly dividend of $0.60 per share, representing a 1.8% yield, while analysts maintain a consensus “Hold” rating.

Corient Private Wealth LP lowered its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 49.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,393 shares of the insurance provider's stock after selling 57,473 shares during the quarter. Corient Private Wealth LP's holdings in The Hartford Insurance Group were worth $7,739,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HIG. Koshinski Asset Management Inc. raised its position in The Hartford Insurance Group by 3.8% in the first quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider's stock worth $305,000 after purchasing an additional 82 shares in the last quarter. Castlekeep Investment Advisors LLC lifted its stake in The Hartford Insurance Group by 0.7% during the fourth quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider's stock worth $1,810,000 after purchasing an additional 86 shares during the period. Versant Capital Management Inc boosted its holdings in The Hartford Insurance Group by 6.4% during the second quarter. Versant Capital Management Inc now owns 1,443 shares of the insurance provider's stock valued at $191,000 after purchasing an additional 87 shares in the last quarter. MJP Associates Inc. ADV grew its stake in shares of The Hartford Insurance Group by 4.3% in the 4th quarter. MJP Associates Inc. ADV now owns 2,226 shares of the insurance provider's stock valued at $307,000 after purchasing an additional 91 shares during the period. Finally, GW Henssler & Associates Ltd. grew its stake in shares of The Hartford Insurance Group by 5.3% in the 4th quarter. GW Henssler & Associates Ltd. now owns 1,859 shares of the insurance provider's stock valued at $256,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Stock Down 1.3%

NYSE HIG opened at $133.20 on Friday. The stock has a fifty day moving average of $139.08 and a 200-day moving average of $136.12. The stock has a market capitalization of $36.08 billion, a P/E ratio of 8.61, a price-to-earnings-growth ratio of 2.37 and a beta of 0.45. The Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $146.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31.

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

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group's dividend payout ratio (DPR) is 15.51%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HIG shares. Royal Bank Of Canada increased their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "sector perform" rating in a report on Monday, July 27th. Cantor Fitzgerald increased their target price on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Weiss Ratings raised shares of The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, September 4th. Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a "market perform" rating in a report on Tuesday, July 28th. Finally, Mizuho lowered shares of The Hartford Insurance Group from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $163.00 to $154.00 in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $149.07.

The Hartford Insurance Group Company Profile

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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