Harbor Capital Advisors Inc. decreased its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 95.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 309 shares of the insurance provider's stock after selling 6,267 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in The Hartford Insurance Group were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of HIG. Geode Capital Management LLC lifted its holdings in shares of The Hartford Insurance Group by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 7,251,389 shares of the insurance provider's stock valued at $792,796,000 after acquiring an additional 81,495 shares during the last quarter. Victory Capital Management Inc. increased its stake in The Hartford Insurance Group by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider's stock worth $514,363,000 after acquiring an additional 202,487 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in The Hartford Insurance Group by 6.5% during the fourth 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 valued at $419,053,000 after purchasing an additional 234,320 shares during the period. Norges Bank purchased a new stake in The Hartford Insurance Group during the fourth quarter valued at approximately $416,340,000. Finally, Northern Trust Corp lifted its stake in shares of The Hartford Insurance Group by 17.2% in the 4th quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock valued at $387,021,000 after purchasing an additional 519,717 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.
The Hartford Insurance Group Trading Down 0.6%
NYSE:HIG traded down $0.71 during midday trading on Thursday, hitting $124.82. The stock had a trading volume of 1,473,424 shares, compared to its average volume of 1,581,676. The stock has a 50-day moving average of $124.98 and a 200 day moving average of $117.95. The company has a market capitalization of $35.46 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.22 and a beta of 0.71. The Hartford Insurance Group, Inc. has a one year low of $98.16 and a one year high of $132.09. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.26.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.05. The business had revenue of $6.81 billion during the quarter, compared to analysts' expectations of $6.97 billion. The Hartford Insurance Group had a return on equity of 18.73% and a net margin of 11.10%. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.34 EPS. As a group, sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.
The Hartford Insurance Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, June 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, June 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 20.74%.
Insider Activity at The Hartford Insurance Group
In other The Hartford Insurance Group news, SVP Allison G. Niderno sold 1,086 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the completion of the sale, the senior vice president now directly owns 622 shares in the company, valued at approximately $74,279.24. This trade represents a 63.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 1,144 shares of The Hartford Insurance Group stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total transaction of $143,000.00. Following the sale, the chief executive officer now owns 211,082 shares of the company's stock, valued at $26,385,250. The trade was a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several research firms have recently weighed in on HIG. Morgan Stanley boosted their target price on The Hartford Insurance Group from $115.00 to $130.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods dropped their price objective on shares of The Hartford Insurance Group from $140.00 to $133.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Raymond James Financial boosted their price objective on shares of The Hartford Insurance Group from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Wells Fargo & Company lowered their target price on shares of The Hartford Insurance Group from $126.00 to $125.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Piper Sandler lifted their price target on shares of The Hartford Insurance Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.15.
Get Our Latest Research Report on The Hartford Insurance Group
About The Hartford Insurance Group
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Free Report)
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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