Newport Trust Company LLC Sells 39,216 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Newport Trust Company LLC reduced its stake in The Hartford Insurance Group by 1.5%, selling 39,216 shares in the first quarter, leaving it with approximately 2.6 million shares worth about $325 million.
• The Hartford Insurance Group reported $3.41 earnings per share for the latest quarter, surpassing consensus estimates by $0.58, with a revenue of $6.99 billion, a 7.7% increase year-over-year.
• The firm announced a quarterly dividend of $0.52, with a dividend yield of 1.6% and a payout ratio of 18.86%, with the dividend set to be paid on October 2nd.

Newport Trust Company LLC trimmed its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,626,918 shares of the insurance provider's stock after selling 39,216 shares during the period. The Hartford Insurance Group comprises about 0.8% of Newport Trust Company LLC's investment portfolio, making the stock its 23rd largest holding. Newport Trust Company LLC owned about 0.92% of The Hartford Insurance Group worth $325,029,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC boosted its position in shares of The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after buying an additional 155 shares during the period. Spurstone Advisory Services LLC acquired a new position in shares of The Hartford Insurance Group during the fourth quarter worth about $33,000. Center for Financial Planning Inc. acquired a new position in shares of The Hartford Insurance Group during the first quarter worth about $33,000. Itau Unibanco Holding S.A. acquired a new position in shares of The Hartford Insurance Group during the fourth quarter worth about $35,000. Finally, Meeder Asset Management Inc. boosted its position in shares of The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after buying an additional 161 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Up 0.6%

HIG traded up $0.7780 on Friday, hitting $133.9780. 1,459,319 shares of the company were exchanged, compared to its average volume of 1,483,481. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $134.94. The company has a market cap of $37.67 billion, a PE ratio of 12.15, a PEG ratio of 1.30 and a beta of 0.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The stock's fifty day moving average is $125.64 and its 200-day moving average is $122.57.

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

The Hartford Insurance Group Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HIG. Wells Fargo & Company upped their price objective on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods upped their price objective on The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price objective (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Wall Street Zen raised The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, UBS Group upped their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $137.64.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the sale, the chief financial officer owned 77,574 shares in the company, 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 link. 1.60% of the stock is owned by corporate insiders.

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.