TD Asset Management Inc Reduces Stock Position in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• TD Asset Management Inc has sold 28,839 shares of The Hartford Insurance Group, reducing its stake by 7.3% to approximately $45.4 million worth of shares.
• The Hartford reported a quarterly earnings per share of $3.41, exceeding analysts' expectations by $0.58, with a revenue of $6.99 billion, showing a year-over-year increase of 7.7%.
• The firm announced a quarterly dividend of $0.52, representing an annualized yield of 1.67%, with the payout ratio currently at 18.86%.

TD Asset Management Inc cut its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 7.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 367,303 shares of the insurance provider's stock after selling 28,839 shares during the period. TD Asset Management Inc owned about 0.13% of The Hartford Insurance Group worth $45,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Park Square Financial Group LLC lifted its stake in shares of The Hartford Insurance Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 155 shares during the period. Spurstone Advisory Services LLC purchased a new position in The Hartford Insurance Group in the 4th quarter valued at $33,000. Center for Financial Planning Inc. purchased a new stake in shares of The Hartford Insurance Group in the 1st quarter worth about $33,000. Itau Unibanco Holding S.A. acquired a new position in shares of The Hartford Insurance Group during the 4th quarter valued at about $35,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of The Hartford Insurance Group during the 1st quarter worth about $37,000. Institutional investors own 93.42% of the company's stock.

Wall Street Analyst Weigh In

HIG has been the topic of several analyst reports. Wells Fargo & Company increased their target price on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday. Morgan Stanley lifted their target price on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.67.

The Hartford Insurance Group Stock Down 0.9%

HIG stock traded down $1.15 during trading hours on Friday, hitting $123.24. The company's stock had a trading volume of 510,681 shares, compared to its average volume of 1,670,047. The company has a market capitalization of $34.65 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.25 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 12 month low of $103.96 and a 12 month high of $132.09. The stock has a 50 day moving average price of $125.17 and a two-hundred day moving average price of $120.51. The company has a quick ratio of 0.31, a current 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 earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%. The firm had revenue of $6.99 billion for the quarter, compared to analysts' expectations of $7.02 billion. During the same quarter in the previous year, the business posted $2.50 earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business 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 $0.52 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group's dividend payout ratio is presently 18.86%.

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.