Dale Q Rice Investment Management Ltd Sells 2,200 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Dale Q Rice Investment Management Ltd reduced its holding in The Hartford Insurance Group by 50%, selling 2,200 shares during the second quarter, which were valued at $265,000 thereafter.
• Several institutional investors have significantly increased their positions in The Hartford, with Woodline Partners LP leading with a 28,218.5% increase, now holding 757,804 shares worth approximately $93.76 million.
• The Hartford Insurance Group announced a quarterly dividend of $0.52 per share with a dividend yield of 1.7%, demonstrating a payout ratio of 18.86%.

Dale Q Rice Investment Management Ltd reduced its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 50.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,200 shares of the insurance provider's stock after selling 2,200 shares during the quarter. Dale Q Rice Investment Management Ltd's holdings in The Hartford Insurance Group were worth $265,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HIG. Woodline Partners LP increased its holdings in The Hartford Insurance Group by 28,218.5% in the 1st quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider's stock valued at $93,763,000 after buying an additional 755,128 shares during the period. Nuveen LLC bought a new position in The Hartford Insurance Group in the 1st quarter valued at about $87,516,000. Bahl & Gaynor Inc. increased its holdings in The Hartford Insurance Group by 47.0% in the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock valued at $264,972,000 after buying an additional 684,390 shares during the period. Amundi increased its holdings in The Hartford Insurance Group by 27.4% in the 1st quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock valued at $239,905,000 after buying an additional 417,951 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in The Hartford Insurance Group by 38.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,493,077 shares of the insurance provider's stock valued at $189,427,000 after buying an additional 414,216 shares during the period. 93.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on HIG. Weiss Ratings reissued a "buy (a-)" rating on shares of The Hartford Insurance Group in a report on Wednesday, October 8th. Morgan Stanley lifted their price target on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the company an "equal weight" rating in a report on Tuesday, October 7th. Wells Fargo & Company lifted their price target on shares of The Hartford Insurance Group from $139.00 to $147.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Citigroup started coverage on shares of 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. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $140.07.

Insider Buying and Selling

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 shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. The trade was a 31.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

The Hartford Insurance Group Stock Up 0.3%

NYSE:HIG opened at $124.37 on Friday. The firm's 50 day simple moving average is $131.43 and its 200 day simple moving average is $126.47. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17. The company has a market cap of $34.97 billion, a PE ratio of 11.28, a P/E/G ratio of 1.20 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping the consensus estimate 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 business had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the company earned $2.50 EPS. The firm's revenue was up 7.7% compared to the same quarter last year. On average, research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd were given a $0.52 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group's payout ratio is 18.86%.

About The Hartford Insurance Group

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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