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

Key Points

• USS Investment Management Ltd has reduced its holdings in The Hartford Insurance Group by 28.4% after selling 16,700 shares, leaving them with 42,017 shares valued at approximately $5.2 million.
• Several other institutional investors have increased their stakes in The Hartford Insurance Group, with notable increases from NewEdge Advisors LLC and MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., indicating strong institutional interest.
• Analysts have raised their price targets for The Hartford Insurance Group, with Wells Fargo setting a target of $139 and UBS at $150, reflecting a positive outlook for the stock, which currently holds a consensus rating of "Moderate Buy".

USS Investment Management Ltd trimmed its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 28.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,017 shares of the insurance provider's stock after selling 16,700 shares during the period. USS Investment Management Ltd's holdings in The Hartford Insurance Group were worth $5,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. NorthRock Partners LLC grew its position in The Hartford Insurance Group by 2.6% during the 1st quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider's stock worth $395,000 after purchasing an additional 80 shares during the period. Wayfinding Financial LLC lifted its stake in The Hartford Insurance Group by 3.0% in the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider's stock valued at $355,000 after buying an additional 84 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in The Hartford Insurance Group by 3.2% in the 1st quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider's stock valued at $356,000 after buying an additional 88 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in The Hartford Insurance Group by 1.7% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 5,580 shares of the insurance provider's stock valued at $690,000 after acquiring an additional 95 shares during the last quarter. Finally, HighPoint Advisor Group LLC raised its holdings in The Hartford Insurance Group by 4.1% in the 1st quarter. HighPoint Advisor Group LLC now owns 2,447 shares of the insurance provider's stock valued at $299,000 after acquiring an additional 96 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling 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 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 sale, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction on Friday, September 5th. The stock was 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. 1.50% of the stock is currently owned by insiders.

The Hartford Insurance Group Stock Down 0.3%

HIG stock traded down $0.41 during midday trading on Friday, hitting $132.82. The company's stock had a trading volume of 609,010 shares, compared to its average volume of 1,619,531. The firm has a market capitalization of $37.34 billion, a P/E ratio of 12.03, a PEG ratio of 1.27 and a beta of 0.72. The firm has a 50-day simple moving average of $127.58 and a 200-day simple moving average of $124.36. 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 quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25.

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, topping the consensus estimate of $2.83 by $0.58. The business 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 for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.50 EPS. As a group, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is 18.86%.

Wall Street Analysts Forecast Growth

HIG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised 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 report on Tuesday, July 29th. Citigroup initiated coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 target price for the company. Wells Fargo & Company lifted their target price on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Wall Street Zen downgraded shares of The Hartford Insurance Group from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Finally, UBS Group lifted their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group has an average rating of "Moderate Buy" and a consensus target price of $138.00.

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.