Envestnet Portfolio Solutions Inc. Has $4.32 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Envestnet Portfolio Solutions Inc. has reduced its stake in The Hartford Insurance Group by 13.9%, now holding 34,026 shares valued at $4.32 million.
• The Hartford's recent quarterly earnings topped estimates, reporting $3.41 earnings per share against a consensus estimate of $2.83, with revenue reaching $6.99 billion.
• A quarterly dividend of $0.52 was recently paid to stockholders, resulting in an annualized dividend yield of 1.6%.

Envestnet Portfolio Solutions Inc. decreased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 13.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,026 shares of the insurance provider's stock after selling 5,483 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in The Hartford Insurance Group were worth $4,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Park Square Financial Group LLC lifted its position 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 worth $32,000 after buying an additional 155 shares in the last quarter. Center for Financial Planning Inc. bought a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $33,000. Meeder Asset Management Inc. increased its stake in shares of 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 acquiring an additional 161 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $37,000. Finally, Signature Resources Capital Management LLC bought a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 93.42% of the company's stock.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction 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 sale, the chief financial officer directly owned 77,574 shares of the company's stock, valued at $9,580,389. This represents a 31.30% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $128.67 on Thursday. The stock has a market capitalization of $36.18 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.27 and a beta of 0.69. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17. The company has a 50 day moving average of $131.58 and a 200-day moving average of $126.47. 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 (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping the consensus estimate 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 business's quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $2.50 EPS. As a group, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is presently 18.86%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler increased their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Raymond James Financial reissued an "outperform" rating and set a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Morgan Stanley increased their target price on The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 7th. Cantor Fitzgerald assumed coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an "overweight" rating and a $152.00 target price for the company. Finally, Evercore ISI increased their target price on The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of "Moderate Buy" and a consensus price target of $140.07.

The Hartford Insurance Group 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.

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