Truist Financial Corp Has $15.83 Million Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• Truist Financial Corp reduced its holdings in The Hartford Insurance Group by 4.7%, owning 124,792 shares valued at approximately $15.83 million after selling 6,141 shares.
• The Hartford Insurance Group recently announced a quarterly dividend of $0.52 per share, resulting in an annualized dividend yield of 1.6% with a payout ratio of 18.86%.
• Analysts have a consensus rating of "Moderate Buy" for The Hartford Insurance Group, with a price target of around $137.93 after several firms raised their target prices for the stock.

Truist Financial Corp trimmed its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,792 shares of the insurance provider's stock after selling 6,141 shares during the period. Truist Financial Corp's holdings in The Hartford Insurance Group were worth $15,832,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC raised its stake in The Hartford Insurance Group by 146.2% in the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 155 shares in the last quarter. Center for Financial Planning Inc. bought a new stake in shares of The Hartford Insurance Group during the 1st quarter worth approximately $33,000. Meeder Asset Management Inc. lifted its holdings in shares of The Hartford Insurance Group by 123.8% during the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after acquiring an additional 161 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in shares of The Hartford Insurance Group during the 1st quarter worth approximately $37,000. Finally, Signature Resources Capital Management LLC bought a new position in The Hartford Insurance Group in the second quarter valued at approximately $38,000. Institutional investors own 93.42% of the company's stock.

Insider Activity

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the sale, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. The trade was a 31.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HIG shares. Wells Fargo & Company upped their target price on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Evercore ISI upped their price objective on The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an "in-line" rating in a research report on Wednesday. Citigroup began 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 boosted their target price on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Cantor Fitzgerald initiated coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $137.93.

The Hartford Insurance Group Stock Up 0.4%

NYSE:HIG opened at $133.51 on Friday. 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 debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $37.54 billion, a PE ratio of 12.10, a P/E/G ratio of 1.29 and a beta of 0.69. The firm's 50 day simple moving average is $130.65 and its 200 day simple moving average is $125.97.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion during the quarter, compared to analysts' expectations 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 in the prior year, the company posted $2.50 EPS. On average, research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

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

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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