The Hartford Insurance Group, Inc. $HIG Shares Sold by Plato Investment Management Ltd

Key Points

• Plato Investment Management Ltd reduced its stake in The Hartford Insurance Group by 10.9%, holding 16,453 shares valued at $2,058,000 as of the first quarter.
• The Hartford Insurance Group has received multiple price target increases from analysts, with Piper Sandler raising it from $145.00 to $150.00 and a consensus price target now at $138.00.
• The company announced a quarterly dividend of $0.52 per share, with a scheduled payment date of October 2nd and a yield of 1.6% based on its current stock price.

Plato Investment Management Ltd lowered its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 10.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,453 shares of the insurance provider's stock after selling 2,005 shares during the quarter. Plato Investment Management Ltd's holdings in The Hartford Insurance Group were worth $2,058,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its stake in shares of The Hartford Insurance Group by 167.8% in the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 198 shares during the period. Sharp Financial Services LLC acquired a new stake in shares of The Hartford Insurance Group in the first quarter valued at approximately $260,000. Oppenheimer & Co. Inc. increased its stake in shares of The Hartford Insurance Group by 86.7% in the first quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock valued at $533,000 after purchasing an additional 2,000 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of The Hartford Insurance Group in the first quarter valued at approximately $233,000. Finally, Aurora Investment Counsel acquired a new stake in shares of The Hartford Insurance Group in the first quarter valued at approximately $2,434,000. Institutional investors and hedge funds own 93.42% of the company's stock.

Wall Street Analyst Weigh In

HIG has been the topic of several analyst reports. Piper Sandler raised their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. Keefe, Bruyette & Woods raised their price objective 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. Raymond James Financial restated an "outperform" rating and issued a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Cantor Fitzgerald started coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.00.

The Hartford Insurance Group Trading Up 0.2%

The Hartford Insurance Group stock opened at $131.13 on Thursday. The company has a 50 day moving average price of $127.41 and a 200 day moving average price of $124.22. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $135.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market capitalization of $36.87 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 1.27 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the business posted $2.50 EPS. The company's revenue was up 7.7% on a year-over-year basis. Research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The Hartford Insurance Group's dividend payout ratio (DPR) is 18.86%.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction on 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 sale, the chief financial officer owned 77,574 shares of the company's stock, valued at $9,580,389. This trade represents a 31.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction on 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. Company insiders own 1.50% of the company's stock.

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.

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