The Hartford Insurance Group, Inc. (NYSE:HIG) Shares Sold by Sienna Gestion

Key Points

• Sienna Gestion reduced its stake in The Hartford Insurance Group by 10.8%, selling 7,145 shares during the first quarter, now holding 58,802 shares valued at approximately $7.07 million.
• The Hartford Insurance Group announced a quarterly dividend of $0.52 per share, translating to an annualized dividend yield of 1.6%.
• Analysts have exhibited positive sentiment towards the stock, with seven holding and eight buying ratings, and a consensus target price of $137.64.

Sienna Gestion cut its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 10.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,802 shares of the insurance provider's stock after selling 7,145 shares during the quarter. Sienna Gestion's holdings in The Hartford Insurance Group were worth $7,072,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC lifted its position in The Hartford Insurance Group by 167.8% in the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock valued at $39,000 after buying an additional 198 shares during the last quarter. Sharp Financial Services LLC purchased a new stake in The Hartford Insurance Group in the first quarter valued at approximately $260,000. Oppenheimer & Co. Inc. raised its position in The Hartford Insurance Group by 86.7% in the first quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock valued at $533,000 after purchasing an additional 2,000 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in The Hartford Insurance Group in the first quarter valued at approximately $233,000. Finally, Aurora Investment Counsel purchased a new stake in The Hartford Insurance Group in the first quarter valued at approximately $2,434,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen raised The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Wells Fargo & Company lifted their target price on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Barclays dropped their target price on 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. Morgan Stanley lifted their price objective on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Cantor Fitzgerald assumed coverage on The Hartford Insurance Group in a research note on Wednesday. They issued an "overweight" rating and a $152.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $137.64.

The Hartford Insurance Group Stock Down 0.5%

HIG stock traded down $0.60 during trading on Friday, hitting $130.74. 2,700,466 shares of the company's stock were exchanged, compared to its average volume of 1,471,675. The business has a 50-day moving average price of $124.94 and a two-hundred day moving average price of $121.82. The stock has a market capitalization of $36.76 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 1.27 and a beta of 0.67. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $132.09. 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 (NYSE:HIG - Get Free Report) last released its quarterly earnings results 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 company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.50 earnings per share. As a group, equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

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

Insider Buying and Selling

In other The Hartford Insurance Group 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 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 of the company's stock, valued at $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 SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by company insiders.

The Hartford Insurance Group Company 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.