Foster & Motley Inc. Sells 2,834 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Foster & Motley Inc. reduced its stakes in The Hartford Insurance Group by 2.7%, selling 2,834 shares and now holds 101,941 shares, valuing about $12.9 million.
• The Hartford Insurance Group reported $3.41 EPS for the last quarter, surpassing estimates by $0.58, while its revenue was $6.99 billion, slightly below expectations.
• The company recently declared a $0.52 quarterly dividend, resulting in an annualized yield of 1.7% and a payout ratio of 18.86%.

Foster & Motley Inc. decreased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 2.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,941 shares of the insurance provider's stock after selling 2,834 shares during the period. The Hartford Insurance Group comprises approximately 0.7% of Foster & Motley Inc.'s investment portfolio, making the stock its 28th biggest holding. Foster & Motley Inc.'s holdings in The Hartford Insurance Group were worth $12,933,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Angeles Wealth Management LLC bought a new stake in The Hartford Insurance Group during the 2nd quarter valued at $232,000. Riverbend Wealth Management LLC lifted its stake in shares of The Hartford Insurance Group by 5.2% during the 2nd quarter. Riverbend Wealth Management LLC now owns 2,178 shares of the insurance provider's stock worth $276,000 after purchasing an additional 107 shares during the last quarter. Generali Asset Management SPA SGR boosted its position in The Hartford Insurance Group by 21.5% during the second quarter. Generali Asset Management SPA SGR now owns 48,427 shares of the insurance provider's stock valued at $6,144,000 after purchasing an additional 8,567 shares in the last quarter. Ritholtz Wealth Management grew its stake in The Hartford Insurance Group by 4.1% in the second quarter. Ritholtz Wealth Management now owns 70,428 shares of the insurance provider's stock valued at $8,935,000 after purchasing an additional 2,797 shares during the last quarter. Finally, Harbour Investments Inc. grew its stake in The Hartford Insurance Group by 220.5% in the second quarter. Harbour Investments Inc. now owns 1,346 shares of the insurance provider's stock valued at $171,000 after purchasing an additional 926 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Up 0.3%

NYSE:HIG opened at $124.37 on Friday. 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 Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month 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 company's 50 day moving average is $131.43 and its two-hundred day moving average is $126.47.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The business 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 quarter last year, the company posted $2.50 earnings per share. Analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

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

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HIG shares. Raymond James Financial restated an "outperform" rating and issued a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Keefe, Bruyette & Woods increased their target price on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Evercore ISI raised their target price on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the company an "in-line" rating in a research note on Wednesday, October 1st. Morgan Stanley lifted their price target on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 7th. Finally, Wells Fargo & Company upped their price target on The Hartford Insurance Group from $139.00 to $147.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. One equities research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.07.

The Hartford Insurance Group Company 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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