Sumitomo Mitsui Trust Group Inc. Has $97.51 Million Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• Sumitomo Mitsui Trust Group Inc. holds approximately $97.51 million in The Hartford Insurance Group, having reduced its stake by 1.8% during the second quarter.
• The Hartford Insurance Group has received a consensus rating of "Moderate Buy" from analysts, with a target price averaging $140.07.
• The insurance provider reported earnings of $3.41 per share in its last quarter, exceeding estimates and reflecting a 7.7% year-over-year revenue increase.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 1.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 768,550 shares of the insurance provider's stock after selling 14,407 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of The Hartford Insurance Group worth $97,506,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NorthRock Partners LLC lifted its holdings in shares of The Hartford Insurance Group by 2.6% during the 1st quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider's stock worth $395,000 after acquiring an additional 80 shares during the period. Wayfinding Financial LLC lifted its stake in The Hartford Insurance Group by 3.0% during the first quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider's stock worth $355,000 after purchasing an additional 84 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of The Hartford Insurance Group by 3.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider's stock valued at $303,000 after purchasing an additional 85 shares in the last quarter. Wealthspire Advisors LLC increased its stake in shares of The Hartford Insurance Group by 3.2% in the 1st quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider's stock valued at $356,000 after purchasing an additional 88 shares during the last quarter. Finally, BayBridge Capital Group LLC raised its holdings in shares of The Hartford Insurance Group by 2.4% during the 2nd quarter. BayBridge Capital Group LLC now owns 3,776 shares of the insurance provider's stock worth $479,000 after buying an additional 89 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

HIG has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a "neutral" rating in a research note on Thursday, October 9th. Keefe, Bruyette & Woods raised their price target on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Citigroup initiated coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 price objective for the company. Finally, Evercore ISI raised their target price on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the company an "in-line" rating in a research report on Wednesday, October 1st. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of "Moderate Buy" and a consensus target price of $140.07.

The Hartford Insurance Group Stock Down 0.2%

NYSE:HIG opened at $125.03 on Friday. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $35.15 billion, a PE ratio of 11.34, a P/E/G ratio of 1.21 and a beta of 0.69. The firm's 50 day simple moving average is $130.90 and its 200 day simple moving average is $126.88.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion during the quarter, compared to analysts' expectations 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 was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.50 EPS. On average, research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

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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