HighTower Advisors LLC Has $9.79 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• HighTower Advisors cut its stake in The Hartford Insurance Group by 19% in the fourth quarter, leaving it with 71,076 shares valued at about $9.79 million.
• Insider selling was notable: EVP Lori A. Rodden sold 40,693 shares for roughly $5.62 million, reducing her position by 61.58%.
• The Hartford reported Q1 earnings below expectations, with EPS of $3.09 versus $3.39 expected and revenue of $7.23 billion versus $7.41 billion expected; the company also declared a quarterly dividend of $0.60 per share.

HighTower Advisors LLC decreased its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 19.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,076 shares of the insurance provider's stock after selling 16,679 shares during the quarter. HighTower Advisors LLC's holdings in The Hartford Insurance Group were worth $9,794,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HIG. Cornerstone Planning Group LLC boosted its position in shares of The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 184 shares during the period. JPL Wealth Management LLC acquired a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at $26,000. United Financial Planning Group LLC acquired a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at $29,000. Sunbelt Securities Inc. acquired a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC boosted its position in shares of The Hartford Insurance Group by 144.8% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 93.42% of the company's stock.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the sale, the executive vice president directly owned 25,392 shares of the company's stock, valued at $3,505,365.60. This trade represents a 61.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

The Hartford Insurance Group Stock Up 0.1%

Shares of The Hartford Insurance Group stock opened at $136.15 on Tuesday. The stock has a 50-day moving average price of $135.71 and a 200 day moving average price of $135.99. The company has a market cap of $37.32 billion, a P/E ratio of 9.57, a P/E/G ratio of 2.45 and a beta of 0.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 1 year low of $119.61 and a 1 year high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The business had revenue of $7.23 billion during the quarter, compared to analysts' expectations of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm's revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 earnings per share. As a group, analysts expect that The Hartford Insurance Group, Inc. will post 13.14 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The Hartford Insurance Group's dividend payout ratio (DPR) is 16.87%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Morgan Stanley increased their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 3rd. UBS Group decreased their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, April 27th. Citigroup increased their price objective on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 4th. Wells Fargo & Company increased their price objective on The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Finally, Cantor Fitzgerald reduced their price objective on The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $149.31.

The Hartford Insurance Group Company 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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