The Hartford Insurance Group, Inc. $HIG Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in The Hartford Insurance Group by 1.8%, owning 360,541 shares worth approximately $45.7 million after selling 6,762 shares in the 2nd quarter.
• The Hartford's stock is down 3.7%, currently trading at $123.86 with a market capitalization of $34.83 billion and a price-to-earnings ratio of 11.23.
• Analysts have upgraded The Hartford Insurance Group to a "buy" rating, while the consensus target price is set at approximately $140.07, indicating expectations for moderate growth.

TD Asset Management Inc trimmed its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,541 shares of the insurance provider's stock after selling 6,762 shares during the quarter. TD Asset Management Inc owned 0.13% of The Hartford Insurance Group worth $45,742,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in The Hartford Insurance Group by 14.4% in the first quarter. GAMMA Investing LLC now owns 11,509 shares of the insurance provider's stock valued at $1,424,000 after purchasing an additional 1,445 shares during the period. Sowell Financial Services LLC acquired a new position in The Hartford Insurance Group during the first quarter worth $465,000. Sagespring Wealth Partners LLC purchased a new stake in shares of The Hartford Insurance Group in the first quarter valued at about $312,000. Grove Bank & Trust raised its stake in The Hartford Insurance Group by 30.8% during the first quarter. Grove Bank & Trust now owns 743 shares of the insurance provider's stock worth $92,000 after purchasing an additional 175 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in The Hartford Insurance Group by 2.0% in the 1st quarter. State of Alaska Department of Revenue now owns 33,705 shares of the insurance provider's stock valued at $4,170,000 after purchasing an additional 650 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Stock Down 3.7%

Shares of HIG opened at $123.86 on Friday. The stock has a market capitalization of $34.83 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.24 and a beta of 0.69. 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 stock has a fifty day moving average of $131.51 and a 200-day moving average of $126.47.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping the consensus estimate 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 company had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter last year, the firm posted $2.50 EPS. The company's quarterly revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.08 annualized dividend and a yield of 1.7%. The Hartford Insurance Group's dividend payout ratio is currently 18.86%.

Wall Street Analysts Forecast Growth

HIG has been the subject of a number of analyst reports. Wall Street Zen upgraded The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Weiss Ratings reissued a "buy (a-)" rating on shares of The Hartford Insurance Group in a research note on Wednesday, October 8th. Citigroup assumed coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 price objective on the stock. Morgan Stanley upped their target price on The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 7th. Finally, Piper Sandler upped their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. 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. Based on data from MarketBeat.com, The Hartford Insurance Group presently has an average rating of "Moderate Buy" and a consensus target price of $140.07.

Insider Activity

In other The Hartford Insurance Group news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. This represents a 31.30% decrease in their position. 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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