Price T Rowe Associates Inc. MD Sells 720,850 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Price T Rowe Associates Inc. has reduced its stake in The Hartford Insurance Group by 5.7%, selling 720,850 shares to hold approximately 4.19% of the company valued at about $1.47 billion.
• The Hartford Insurance Group reported an EPS of $3.41 for its latest quarter, surpassing estimates by $0.58, while its revenue was approximately $6.99 billion.
• The company announced a quarterly dividend of $0.52 per share, with the payout date set for October 2.

Price T Rowe Associates Inc. MD trimmed its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,906,057 shares of the insurance provider's stock after selling 720,850 shares during the period. Price T Rowe Associates Inc. MD owned approximately 4.19% of The Hartford Insurance Group worth $1,473,138,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. NorthRock Partners LLC increased its holdings in shares of The Hartford Insurance Group by 2.6% in the first quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider's stock worth $395,000 after buying an additional 80 shares during the period. Wayfinding Financial LLC boosted its holdings in The Hartford Insurance Group by 3.0% during the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider's stock valued at $355,000 after acquiring an additional 84 shares during the period. Wealthspire Advisors LLC grew its position in The Hartford Insurance Group by 3.2% during the 1st quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider's stock worth $356,000 after acquiring an additional 88 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in The Hartford Insurance Group by 1.7% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 5,580 shares of the insurance provider's stock worth $690,000 after purchasing an additional 95 shares during the period. Finally, HighPoint Advisor Group LLC lifted its position in The Hartford Insurance Group by 4.1% in the first quarter. HighPoint Advisor Group LLC now owns 2,447 shares of the insurance provider's stock valued at $299,000 after purchasing an additional 96 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $133.6470 on Thursday. 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 firm's fifty day simple moving average is $125.32 and its 200 day simple moving average is $122.15. The stock has a market cap of $37.58 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 1.28 and a beta of 0.67. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $134.12.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping the consensus estimate of $2.83 by $0.58. The business had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.50 EPS. As a group, research analysts predict 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 Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be issued 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 (DPR) is 18.86%.

Insiders Place Their Bets

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 transaction of $4,364,490.00. Following the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. This represents a 31.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.50% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays cut their target price on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. JPMorgan Chase & Co. increased their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Wells Fargo & Company raised their price target on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Morgan Stanley boosted their price objective on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Finally, Cantor Fitzgerald began coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an "overweight" rating and a $152.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.64.

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.

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