The Hartford Insurance Group, Inc. $HIG Shares Sold by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. reduced its stakes in The Hartford Insurance Group by 18.2% during Q2, now holding 30,363 shares valued at $3.85 million.
• Several institutional investors increased their holdings in The Hartford, with Bahl & Gaynor Inc. alone boosting its shares by 47% during the first quarter.
• The Hartford's stock has seen analysts adjust target prices, with UBS raising theirs to $152.00 while maintaining a "buy" rating on the shares.

First Citizens Bank & Trust Co. trimmed its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 18.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,363 shares of the insurance provider's stock after selling 6,750 shares during the period. First Citizens Bank & Trust Co.'s holdings in The Hartford Insurance Group were worth $3,852,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Northern Trust Corp raised its holdings in shares of The Hartford Insurance Group by 11.3% during the first quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider's stock worth $487,077,000 after purchasing an additional 398,950 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of The Hartford Insurance Group by 1.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider's stock worth $434,181,000 after purchasing an additional 60,116 shares during the period. Bahl & Gaynor Inc. increased its holdings in shares of The Hartford Insurance Group by 47.0% in the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock worth $264,972,000 after acquiring an additional 684,390 shares during the period. Amundi increased its holdings in shares of The Hartford Insurance Group by 27.4% in the 1st quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock worth $239,905,000 after acquiring an additional 417,951 shares during the period. Finally, AustralianSuper Pty Ltd increased its holdings in shares of The Hartford Insurance Group by 31.9% in the 1st quarter. AustralianSuper Pty Ltd now owns 1,600,215 shares of the insurance provider's stock worth $197,995,000 after acquiring an additional 387,141 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

The Hartford Insurance Group Stock Up 0.1%

The Hartford Insurance Group stock opened at $125.05 on Friday. The stock has a market cap of $35.16 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.21 and a beta of 0.69. 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 company's 50-day moving average price is $131.01 and its two-hundred day moving average price is $126.66. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $135.17.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion for 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 Hartford Insurance Group's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $2.50 EPS. On average, analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on HIG shares. UBS Group increased their price objective on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Citigroup started coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a "neutral" rating in a report on Thursday, October 9th. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of The Hartford Insurance Group in a report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price objective on shares of The Hartford Insurance Group from $139.00 to $147.00 and gave the stock an "overweight" rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $140.07.

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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