Lockheed Martin Investment Management Co. Sells 1,980 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Lockheed Martin Investment Management Co. reduced its stake in The Hartford Insurance Group by 2.3%, holding 82,720 shares valued at $10.24 million after the sale.
• The Hartford posted $3.41 earnings per share, exceeding expectations of $2.83, while annual revenue for the quarter increased by 7.7% year-over-year.
• The company declared a quarterly dividend of $0.52 per share with a total annualized dividend yield of 1.6%, affecting shareholders registered by September 2nd.

Lockheed Martin Investment Management Co. cut its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,720 shares of the insurance provider's stock after selling 1,980 shares during the period. Lockheed Martin Investment Management Co.'s holdings in The Hartford Insurance Group were worth $10,235,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Nuveen LLC bought a new position in The Hartford Insurance Group in the 1st quarter valued at about $87,516,000. Cooper Financial Group lifted its position in The Hartford Insurance Group by 11.0% in the 1st quarter. Cooper Financial Group now owns 2,586 shares of the insurance provider's stock valued at $320,000 after acquiring an additional 257 shares in the last quarter. Entropy Technologies LP bought a new position in The Hartford Insurance Group in the 1st quarter valued at about $505,000. Atlas Capital Advisors Inc. lifted its position in The Hartford Insurance Group by 95.1% in the 1st quarter. Atlas Capital Advisors Inc. now owns 6,443 shares of the insurance provider's stock valued at $797,000 after acquiring an additional 3,140 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new position in The Hartford Insurance Group in the 1st quarter valued at about $2,722,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group 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 directly owned 77,574 shares of the company's stock, valued at approximately $9,580,389. The trade was a 31.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company's stock.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock traded up $0.71 on Tuesday, hitting $129.05. 927,559 shares of the company's stock were exchanged, compared to its average volume of 1,598,245. The company has a 50-day simple moving average of $124.78 and a 200-day simple moving average of $121.46. The stock has a market capitalization of $36.28 billion, a PE ratio of 11.70, a PEG ratio of 1.26 and a beta of 0.67. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $132.09. 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 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, beating the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company's revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $2.50 EPS. As a group, equities analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors 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 payout ratio is currently 18.86%.

Wall Street Analyst Weigh In

Several research firms have commented on HIG. Raymond James Financial reissued an "outperform" rating and set a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Morgan Stanley lifted their target price on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods lifted their target price on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, UBS Group lifted their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $136.42.

About The Hartford Insurance Group

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.