The Hartford Insurance Group, Inc. $HIG Shares Sold by Tompkins Financial Corp

Key Points

• Tompkins Financial Corp has reduced its holdings in The Hartford Insurance Group by 65.6%, owning only 1,048 shares worth approximately $133,000 after selling 2,000 shares in the second quarter.
• The Hartford Insurance Group's earnings report showed $3.41 earnings per share for the last quarter, surpassing the consensus estimate of $2.83.
• Research firms have raised their price targets for The Hartford, with UBS increasing it from $145.00 to $150.00 and maintaining a "buy" rating.

Tompkins Financial Corp trimmed its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 65.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,048 shares of the insurance provider's stock after selling 2,000 shares during the quarter. Tompkins Financial Corp's holdings in The Hartford Insurance Group were worth $133,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in HIG. Golden State Wealth Management LLC raised its position in The Hartford Insurance Group by 167.8% in the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock worth $39,000 after purchasing an additional 198 shares during the period. Sharp Financial Services LLC purchased a new stake in The Hartford Insurance Group in the 1st quarter worth about $260,000. Oppenheimer & Co. Inc. raised its position in The Hartford Insurance Group by 86.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock worth $533,000 after purchasing an additional 2,000 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in The Hartford Insurance Group in the 1st quarter worth about $233,000. Finally, Aurora Investment Counsel purchased a new stake in The Hartford Insurance Group in the 1st quarter worth about $2,434,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on HIG. Raymond James Financial reissued an "outperform" rating and issued a $140.00 price objective (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Keefe, Bruyette & Woods increased their price objective 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. Wells Fargo & Company increased their price objective on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. UBS Group upped 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 note on Monday, August 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of "Hold" and an average target price of $138.00.

Insider Buying and Selling

In other news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through this link. Also, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

The Hartford Insurance Group Stock Down 0.1%

Shares of NYSE HIG traded down $0.18 during midday trading on Monday, reaching $130.77. 1,167,934 shares of the company's stock traded hands, compared to its average volume of 1,428,228. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The stock's 50 day simple moving average is $128.78 and its 200-day simple moving average is $125.12. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17. The company has a market cap of $36.77 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 1.27 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the firm earned $2.50 earnings per share. The company's quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. The ex-dividend date 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 currently 18.86%.

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.