The Hartford Insurance Group, Inc. $HIG Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. reduced its stake in The Hartford Insurance Group by 9.9%, now holding 50,225 shares worth $6.25 million after selling 5,540 shares in Q1.
• Several institutional investors significantly increased their holdings in The Hartford, including Brandywine Global and Aberdeen Group, with growth rates of 74.8% and 84.0% respectively in the first quarter.
• The Hartford recently reported an EPS of $3.41 for the last quarter, surpassing estimates, while also announcing a quarterly dividend of $0.52 per share, reflecting a yield of 1.6%.

Ethic Inc. lowered its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 9.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 50,225 shares of the insurance provider's stock after selling 5,540 shares during the period. Ethic Inc.'s holdings in The Hartford Insurance Group were worth $6,247,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in The Hartford Insurance Group by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider's stock worth $419,053,000 after buying an additional 234,320 shares in the last quarter. Northern Trust Corp lifted its holdings in The Hartford Insurance Group by 17.2% during the 4th quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock worth $387,021,000 after buying an additional 519,717 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in The Hartford Insurance Group by 1.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider's stock worth $434,181,000 after buying an additional 60,116 shares in the last quarter. First Trust Advisors LP lifted its holdings in The Hartford Insurance Group by 15.1% during the 4th quarter. First Trust Advisors LP now owns 2,683,531 shares of the insurance provider's stock worth $293,578,000 after buying an additional 352,282 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in The Hartford Insurance Group by 48.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock worth $247,761,000 after buying an additional 735,170 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

Insider Transactions at The Hartford Insurance Group

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 completion of the transaction, the chief financial officer owned 77,574 shares of the company's stock, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.60% of the company's stock.

The Hartford Insurance Group Stock Up 1.5%

NYSE:HIG traded up $1.9850 during midday trading on Wednesday, hitting $133.7950. 524,468 shares of the company were exchanged, compared to its average volume of 1,643,421. The company has a fifty day simple moving average of $125.13 and a 200 day simple moving average of $122.07. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $134.07. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $37.62 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.26 and a beta of 0.67.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.58. The company had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The Hartford Insurance Group's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $2.50 EPS. As a group, equities analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The Hartford Insurance Group's payout ratio is presently 18.86%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HIG shares. Morgan Stanley raised their price objective on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Raymond James Financial restated an "outperform" rating and issued a $140.00 price objective (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. 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. Citigroup started coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 price objective on the stock. Finally, Barclays reduced their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $137.64.

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.