Russell Investments Group Ltd. Has $50.01 Million Stock Holdings in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Russell Investments Group Ltd. reduced its holdings in The Hartford Insurance Group by 23.3%, now owning approximately 404,610 shares valued at $50.01 million.
• Insider trading included CFO Beth Ann Costello selling 35,340 shares, representing a 31.30% decrease in her ownership.
• Analysts have set a range of price targets for The Hartford Insurance Group, with a consensus rating of "Moderate Buy" and an average target price of $137.64.

Russell Investments Group Ltd. trimmed its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 23.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 404,610 shares of the insurance provider's stock after selling 123,204 shares during the period. Russell Investments Group Ltd. owned about 0.14% of The Hartford Insurance Group worth $50,007,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Park Square Financial Group LLC lifted its stake in The Hartford Insurance Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 155 shares during the last quarter. Spurstone Advisory Services LLC acquired a new stake in The Hartford Insurance Group in the 4th quarter valued at about $33,000. Center for Financial Planning Inc. acquired a new stake in The Hartford Insurance Group in the 1st quarter valued at about $33,000. Itau Unibanco Holding S.A. acquired a new stake in The Hartford Insurance Group in the 4th quarter valued at about $35,000. Finally, Meeder Asset Management Inc. lifted its stake in The Hartford Insurance Group by 123.8% in the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 161 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the sale, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of 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. Wells Fargo & Company upped their price target on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Barclays cut their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research report on Monday, July 7th. Keefe, Bruyette & Woods raised their price objective on shares of 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. Finally, Raymond James Financial restated 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. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of "Moderate Buy" and an average target price of $137.64.

The Hartford Insurance Group Stock Up 1.5%

NYSE HIG opened at $130.98 on Thursday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $132.09. The company has a 50 day moving average of $124.84 and a 200-day moving average of $121.52. The company has a market cap of $36.83 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.26 and a beta of 0.67.

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

The Hartford Insurance Group Announces Dividend

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

About The Hartford Insurance Group

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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