SG Americas Securities LLC Sells 304,384 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• SG Americas Securities LLC cut its stake in The Hartford Insurance Group by 81.1% in the first quarter, selling 304,384 shares and leaving it with 70,746 shares worth about $9.57 million.
• Analyst sentiment remains mixed, with several firms trimming price targets while keeping ratings at Buy or Hold; MarketBeat’s consensus is a Moderate Buy with an average price target of $147.31.
• The Hartford reported mixed quarterly results, missing EPS and revenue estimates in its latest earnings release, while also announcing a quarterly dividend of $0.60 per share, or $2.40 annualized, yielding about 1.8%.

SG Americas Securities LLC lessened its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 81.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,746 shares of the insurance provider's stock after selling 304,384 shares during the period. SG Americas Securities LLC's holdings in The Hartford Insurance Group were worth $9,567,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Haven Private LLC lifted its position in The Hartford Insurance Group by 1.1% during the 4th quarter. Haven Private LLC now owns 6,751 shares of the insurance provider's stock worth $930,000 after acquiring an additional 71 shares during the last quarter. Signal Advisors Wealth LLC grew its position in shares of The Hartford Insurance Group by 4.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider's stock valued at $240,000 after purchasing an additional 75 shares during the last quarter. GW&K Investment Management LLC grew its position in shares of The Hartford Insurance Group by 40.3% in the fourth quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 77 shares during the last quarter. Kestra Advisory Services LLC increased its stake in shares of The Hartford Insurance Group by 0.4% in the fourth quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider's stock worth $2,432,000 after purchasing an additional 79 shares during the period. Finally, Castlekeep Investment Advisors LLC increased its stake in shares of 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. Institutional investors own 93.42% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on HIG shares. Bank of America increased their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods dropped 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 research report on Thursday, June 4th. Wells Fargo & Company reduced their price objective on The Hartford Insurance Group from $165.00 to $154.00 and set an "overweight" rating for the company in a research report on Friday, June 5th. UBS Group reduced their price objective on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, April 27th. Finally, Piper Sandler lowered their price objective on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an "overweight" rating on the stock in a research note on Thursday, June 11th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $147.31.

Insider Buying and Selling

In related news, President Adin M. Tooker sold 8,895 shares of the firm's stock in a transaction on 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 transaction, the president directly owned 38,208 shares of the company's stock, 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 is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.

The Hartford Insurance Group Stock Up 2.8%

HIG stock opened at $133.99 on Friday. The Hartford Insurance Group, Inc. has a twelve month low of $119.61 and a twelve month high of $144.50. 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 company has a market cap of $36.73 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 2.45 and a beta of 0.47. The business's 50-day simple moving average is $132.87 and its 200 day simple moving average is $135.35.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period last year, the company earned $2.20 EPS. The company's revenue was up 6.1% on a year-over-year basis. On average, research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.9 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group's dividend payout ratio is presently 16.87%.

About The Hartford Insurance Group

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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