Dynamic Technology Lab Private Ltd Lowers Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Dynamic Technology Lab cut its stake in The Hartford by 77.5% in Q3, selling 13,375 shares and retaining 3,885 shares valued at $518,000.
• Insiders sold heavily last quarter—CFO and CEO reductions contributed to total insider sales of 343,928 shares worth $47.4M—while institutional ownership remains high at 93.42% and insiders hold 1.60%.
• The Hartford beat quarterly expectations (EPS $4.06 vs. $3.22, revenue +6.7%), pays a $0.60 quarterly dividend (1.7% yield), and carries a consensus analyst rating of “Moderate Buy” with an average target of $148.13.

Dynamic Technology Lab Private Ltd decreased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 77.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,885 shares of the insurance provider's stock after selling 13,375 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in The Hartford Insurance Group were worth $518,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of HIG. Armstrong Advisory Group Inc. boosted its holdings in shares of The Hartford Insurance Group by 5.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider's stock valued at $195,000 after purchasing an additional 80 shares during the last quarter. Mather Group LLC. increased its holdings in shares of The Hartford Insurance Group by 4.5% in the third quarter. Mather Group LLC. now owns 1,929 shares of the insurance provider's stock worth $257,000 after purchasing an additional 83 shares during the last quarter. Monument Capital Management lifted its position in shares of The Hartford Insurance Group by 0.4% in the third quarter. Monument Capital Management now owns 24,314 shares of the insurance provider's stock worth $3,243,000 after buying an additional 85 shares in the last quarter. Fidelis Capital Partners LLC lifted its position in shares of The Hartford Insurance Group by 4.4% in the second quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider's stock worth $262,000 after buying an additional 86 shares in the last quarter. Finally, REAP Financial Group LLC boosted its stake in The Hartford Insurance Group by 12.7% during the third quarter. REAP Financial Group LLC now owns 790 shares of the insurance provider's stock valued at $105,000 after buying an additional 89 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock opened at $137.18 on Wednesday. The stock has a market cap of $37.84 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 1.34 and a beta of 0.60. 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 stock has a 50 day moving average price of $137.20 and a 200-day moving average price of $133.86. The Hartford Insurance Group, Inc. has a one year low of $107.49 and a one year high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.84. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The Hartford Insurance Group's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.94 EPS. Equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, March 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is 17.99%.

Insider Transactions at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares of the company's stock, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Swift sold 100,970 shares of the company's stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the transaction, the chief executive officer owned 194,817 shares in the company, valued at $27,426,337.26. The trade was a 34.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 343,928 shares of company stock worth $47,393,256. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Cantor Fitzgerald lifted their price objective on The Hartford Insurance Group from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, February 2nd. Mizuho initiated coverage on shares of The Hartford Insurance Group in a report on Tuesday, December 16th. They issued an "outperform" rating and a $160.00 target price for the company. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Insurance Group from $160.00 to $163.00 and gave the stock an "outperform" rating in a research report on Thursday, February 5th. Royal Bank Of Canada initiated coverage on shares of The Hartford Insurance Group in a research note on Tuesday, November 25th. They set a "sector perform" rating and a $145.00 price target on the stock. Finally, Citigroup increased their price objective on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a "neutral" rating in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, The Hartford Insurance Group currently has an average rating of "Moderate Buy" and a consensus price target of $148.13.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

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