Savant Capital LLC Has $3.37 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Savant Capital LLC cut its HIG stake by 30.3% in the fourth quarter, selling 10,645 shares and leaving it with 24,468 shares valued at about $3.37 million.
• Insider selling was notable, with President Adin M. Tooker and EVP Lori A. Rodden both reducing their holdings through recent transactions, while insiders own just 1.30% of the company.
• The Hartford reported mixed quarterly results: EPS of $3.09 missed estimates, though revenue rose 6.1% year over year; the company also pays a quarterly dividend of $0.60 per share, yielding 1.9%.

Savant Capital LLC decreased its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 30.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,468 shares of the insurance provider's stock after selling 10,645 shares during the period. Savant Capital LLC's holdings in The Hartford Insurance Group were worth $3,372,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of HIG. Castlekeep Investment Advisors LLC lifted its position in The Hartford Insurance Group by 0.7% in the fourth quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider's stock worth $1,810,000 after purchasing an additional 86 shares during the period. Huntington National Bank lifted its position in The Hartford Insurance Group by 8.1% in the fourth quarter. Huntington National Bank now owns 10,053 shares of the insurance provider's stock worth $1,385,000 after purchasing an additional 757 shares during the period. Waystone Advisors LLC bought a new position in The Hartford Insurance Group in the fourth quarter worth $377,000. Geode Capital Management LLC lifted its position in The Hartford Insurance Group by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider's stock worth $1,091,440,000 after purchasing an additional 34,274 shares during the period. Finally, Knights of Columbus Asset Advisors LLC lifted its position in The Hartford Insurance Group by 0.8% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 49,212 shares of the insurance provider's stock worth $6,781,000 after purchasing an additional 387 shares during the period. Institutional investors and hedge funds own 93.42% of the company's stock.

Insider Transactions at The Hartford Insurance Group

In related news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lori A. Rodden sold 40,693 shares of the business's 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 transaction, the executive vice president owned 25,392 shares of the company's stock, valued at $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.30% of the stock is owned by company insiders.

The Hartford Insurance Group Stock Performance

Shares of NYSE:HIG opened at $127.29 on Friday. The Hartford Insurance Group, Inc. has a twelve month low of $119.61 and a twelve month high of $144.50. The firm has a market cap of $34.89 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 2.28 and a beta of 0.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The business has a fifty day moving average of $135.47 and a 200-day moving average of $136.00.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the business posted $2.20 earnings per share. The business's quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 16.87%.

Wall Street Analyst Weigh In

Several research analysts recently commented on HIG shares. Citigroup raised their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. Cantor Fitzgerald cut their price objective on The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. Morgan Stanley lifted their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an "equal weight" rating in a report on Tuesday, February 3rd. Bank of America lifted their price objective on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a report on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a report on Monday, March 30th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.31.

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.

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