Natixis Advisors LLC Lowers Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Natixis Advisors LLC reduced its stake in The Hartford Insurance Group by 6.0% in the fourth quarter, selling 11,428 shares and leaving it with 179,573 shares worth about $24.7 million.
• Insider selling was notable, with EVP Lori A. Rodden and President Adin M. Tooker both trimming holdings in separate transactions, while insiders as a group own 1.30% of the stock.
• The Hartford reported mixed quarterly results: EPS of $3.09 missed estimates, while revenue rose 6.1% year over year to $7.23 billion; the company also declared a $0.60 quarterly dividend and analysts currently rate the stock a Moderate Buy.

Natixis Advisors LLC cut its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 6.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 179,573 shares of the insurance provider's stock after selling 11,428 shares during the period. Natixis Advisors LLC owned about 0.06% of The Hartford Insurance Group worth $24,745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPL Wealth Management LLC purchased a new position in The Hartford Insurance Group during the third quarter valued at $26,000. Cornerstone Planning Group LLC lifted its position in The Hartford Insurance Group by 707.7% during the third 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 in the last quarter. Sunbelt Securities Inc. purchased a new position in The Hartford Insurance Group during the third quarter valued at $29,000. United Financial Planning Group LLC purchased a new position in The Hartford Insurance Group during the third quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its position in The Hartford Insurance Group by 144.8% during the fourth 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 in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the sale, the executive vice president directly owned 25,392 shares of the company's stock, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company's stock.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $127.44 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The business's 50-day simple moving average is $134.93 and its two-hundred day simple moving average is $135.87. The stock has a market cap of $34.94 billion, a PE ratio of 8.96, a P/E/G ratio of 2.26 and a beta of 0.47. The Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results 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 Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period last year, the firm posted $2.20 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts forecast that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group's payout ratio is 16.87%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HIG. Mizuho lifted their target price on The Hartford Insurance Group from $158.00 to $159.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. UBS Group decreased their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, April 27th. Wells Fargo & Company raised their price target on The Hartford Insurance Group from $156.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. Keefe, Bruyette & Woods decreased their price target on The Hartford Insurance Group from $149.00 to $142.00 and set a "market perform" rating on the stock in a report on Thursday. Finally, Weiss Ratings cut The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a report on Wednesday, May 27th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.88.

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.

Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.