The Hartford Insurance Group, Inc. $HIG Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC trimmed its stake in The Hartford by 7.2% in Q3, selling 14,716 shares and now holding 191,001 shares worth about $25.48 million.
• Insider selling was significant: CEO Christopher Swift sold 100,970 shares (~$14.2M) and CFO Beth Ann Costello sold 35,339 shares (~$4.8M), with insiders selling 343,928 shares (~$47.4M) over the past three months.
• The Hartford beat quarterly estimates with $4.06 EPS vs. $3.22 expected and $7.31B revenue (up 6.7% y/y); analysts have a consensus "Moderate Buy" and the company pays a $0.60 quarterly dividend (≈1.7% yield).

Natixis Advisors LLC lowered its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,001 shares of the insurance provider's stock after selling 14,716 shares during the quarter. Natixis Advisors LLC owned 0.07% of The Hartford Insurance Group worth $25,478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HIG. Cornerstone Planning Group LLC grew its position in shares of The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 184 shares during the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC raised its position in shares of The Hartford Insurance Group by 72.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider's stock worth $30,000 after purchasing an additional 99 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in The Hartford Insurance Group in the 2nd quarter valued at approximately $35,000. Finally, Addison Advisors LLC lifted its stake in The Hartford Insurance Group by 129.3% in the 2nd quarter. Addison Advisors LLC now owns 321 shares of the insurance provider's stock valued at $41,000 after buying an additional 181 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Christopher Swift sold 100,970 shares of the company's stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the completion of the sale, the chief executive officer directly owned 194,817 shares of the company's stock, valued at approximately $27,426,337.26. This represents a 34.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the completion of the sale, the chief financial officer directly owned 77,574 shares of the company's stock, valued at $10,595,056.92. This trade represents a 31.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 343,928 shares of company stock valued at $47,393,256. Insiders own 1.60% of the company's stock.

The Hartford Insurance Group Price Performance

HIG stock opened at $137.18 on Wednesday. The stock has a market capitalization of $37.84 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 1.34 and a beta of 0.60. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a 52-week low of $107.49 and a 52-week high of $144.50. The stock's fifty day simple moving average is $137.20 and its 200-day simple moving average is $133.86.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same period in the prior year, the firm posted $2.94 earnings per share. The business's quarterly revenue was up 6.7% compared to the same quarter last year. Equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 17.99%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HIG. UBS Group raised their price target on The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, December 8th. JPMorgan Chase & Co. upped their price objective on The Hartford Insurance Group from $143.00 to $146.00 and gave the company a "neutral" rating in a research report on Wednesday, January 7th. Wells Fargo & Company increased their price objective on The Hartford Insurance Group from $153.00 to $156.00 and gave the company an "overweight" rating in a research note on Monday, February 2nd. Morgan Stanley lifted their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 3rd. Finally, Argus boosted their target price on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the company a "buy" rating in a research note on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $148.13.

The Hartford Insurance Group Company Profile

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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