Mutual of America Capital Management LLC Sells 5,799 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Mutual of America Capital Management LLC reduced its holdings in The Hartford Insurance Group by 7.4%, now owning 72,567 shares worth approximately $8.98 million after selling 5,799 shares.
• Several institutional investors, including UBS AM and Northern Trust Corp, increased their positions significantly in The Hartford, which suggests growing institutional interest.
• The Hartford Insurance Group recently announced a $0.52 quarterly dividend, reflecting an annualized rate of $2.08 and a yield of 1.6%, with a low dividend payout ratio of 18.86%.

Mutual of America Capital Management LLC reduced its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,567 shares of the insurance provider's stock after selling 5,799 shares during the period. Mutual of America Capital Management LLC's holdings in The Hartford Insurance Group were worth $8,979,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its position in shares of The Hartford Insurance Group by 9.4% during the fourth quarter. Federated Hermes Inc. now owns 266,622 shares of the insurance provider's stock valued at $29,168,000 after purchasing an additional 22,983 shares during the period. Cerity Partners LLC boosted its stake in The Hartford Insurance Group by 4.9% in the 4th quarter. Cerity Partners LLC now owns 70,747 shares of the insurance provider's stock valued at $7,829,000 after buying an additional 3,302 shares in the last quarter. FIL Ltd boosted its stake in The Hartford Insurance Group by 150.9% in the 4th quarter. FIL Ltd now owns 57,308 shares of the insurance provider's stock valued at $6,269,000 after buying an additional 34,471 shares in the last quarter. Bank of Nova Scotia boosted its stake in The Hartford Insurance Group by 2.5% in the 4th quarter. Bank of Nova Scotia now owns 43,344 shares of the insurance provider's stock valued at $4,742,000 after buying an additional 1,073 shares in the last quarter. Finally, Martingale Asset Management L P boosted its stake in The Hartford Insurance Group by 4.0% in the 4th quarter. Martingale Asset Management L P now owns 181,134 shares of the insurance provider's stock valued at $19,816,000 after buying an additional 6,910 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.

The Hartford Insurance Group Trading Up 0.8%

NYSE HIG traded up $0.99 on Friday, reaching $128.20. The company had a trading volume of 954,415 shares, compared to its average volume of 1,635,000. The stock's 50 day moving average is $124.83 and its 200-day moving average is $121.15. The stock has a market cap of $36.04 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.25 and a beta of 0.67. 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, Inc. has a 52 week low of $104.93 and a 52 week high of $132.09.

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

The Hartford Insurance Group Dividend Announcement

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

Analyst Ratings Changes

HIG has been the topic of several recent analyst reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. UBS Group boosted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Wells Fargo & Company boosted their price objective on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Jefferies Financial Group reduced their price objective on The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. upped their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.42.

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.