Sustainable Insight Capital Management LLC lowered its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 32.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,610 shares of the insurance provider's stock after selling 8,800 shares during the quarter. The Hartford Insurance Group comprises about 0.8% of Sustainable Insight Capital Management LLC's investment portfolio, making the stock its 28th biggest position. Sustainable Insight Capital Management LLC's holdings in The Hartford Insurance Group were worth $2,517,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its holdings in The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider's stock valued at $10,178,152,000 after buying an additional 73,835,976 shares in the last quarter. State Street Corp boosted its stake in shares of The Hartford Insurance Group by 0.4% during the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider's stock worth $2,146,749,000 after acquiring an additional 55,983 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of The Hartford Insurance Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider's stock worth $1,091,440,000 after acquiring an additional 34,274 shares in the last quarter. Invesco Ltd. increased its holdings in shares of The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock valued at $711,141,000 after acquiring an additional 496,821 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of The Hartford Insurance Group by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider's stock valued at $635,490,000 after acquiring an additional 72,448 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.
Insider Activity
In related news, President Adin M. Tooker sold 8,895 shares of the company'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 in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company's stock.
Analysts Set New Price Targets
Several research firms recently weighed in on HIG. Barclays reduced their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating for the company in a report on Friday, June 12th. Keefe, Bruyette & Woods increased their price target on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a "market perform" rating in a report on Wednesday, July 8th. Weiss Ratings lowered shares of The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday, May 27th. Wells Fargo & Company boosted their price objective on shares of The Hartford Insurance Group from $154.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Finally, UBS Group decreased their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a report on Monday, April 27th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $148.75.
Get Our Latest Analysis on HIG
The Hartford Insurance Group Stock Down 1.2%
Shares of HIG opened at $140.50 on Friday. 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 company has a 50-day simple moving average of $133.83 and a 200-day simple moving average of $135.51. The Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $144.50. The firm has a market capitalization of $38.51 billion, a P/E ratio of 9.08, a P/E/G ratio of 3.88 and a beta of 0.47.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts' consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 15.00%.The business had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the business earned $3.41 earnings per share. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that The Hartford Insurance Group, Inc. will post 12.69 earnings per share for the current year.
The Hartford Insurance Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 16.87%.
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About The Hartford Insurance Group
(
Free Report)
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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