Wealth Enhancement Advisory Services LLC lessened its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 23.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 77,906 shares of the insurance provider's stock after selling 23,728 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in The Hartford Insurance Group were worth $9,639,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of HIG. Spurstone Advisory Services LLC acquired a new stake in The Hartford Insurance Group during the fourth quarter worth about $33,000. Itau Unibanco Holding S.A. acquired a new stake in The Hartford Insurance Group during the fourth quarter worth about $35,000. Flagship Wealth Advisors LLC acquired a new stake in The Hartford Insurance Group during the fourth quarter worth about $36,000. Curat Global LLC acquired a new stake in The Hartford Insurance Group during the first quarter worth about $49,000. Finally, Smithfield Trust Co raised its stake in The Hartford Insurance Group by 26.7% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the insurance provider's stock worth $51,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 93.42% of the company's stock.
The Hartford Insurance Group Trading Up 1.1%
The Hartford Insurance Group stock opened at $127.49 on Tuesday. The firm has a 50 day simple moving average of $125.58 and a 200-day simple moving average of $118.03. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $36.22 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.22 and a beta of 0.71. The Hartford Insurance Group, Inc. has a 12-month low of $98.16 and a 12-month high of $132.09.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.05. The firm had revenue of $6.81 billion during the quarter, compared to analysts' expectations of $6.97 billion. The Hartford Insurance Group had a net margin of 11.10% and a return on equity of 18.73%. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $2.34 earnings per share. As a group, equities research analysts expect 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 announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, June 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Monday, June 2nd. The Hartford Insurance Group's payout ratio is 20.74%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on HIG shares. Jefferies Financial Group dropped their price objective on shares of The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Barclays increased their price objective on shares of The Hartford Insurance Group from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on shares of The Hartford Insurance Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. UBS Group raised their price target on shares of The Hartford Insurance Group from $139.00 to $142.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Finally, Raymond James Financial raised their price target on shares of The Hartford Insurance Group from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $131.15.
Get Our Latest Report on HIG
Insider Buying and Selling
In related news, CEO Christopher Swift sold 1,144 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total value of $143,000.00. Following the completion of the sale, the chief executive officer now owns 211,082 shares in the company, valued at approximately $26,385,250. This represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Allison G. Niderno sold 1,086 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the completion of the sale, the senior vice president now owns 622 shares of the company's stock, valued at approximately $74,279.24. This trade represents a 63.58% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
About The Hartford Insurance Group
(
Free Report)
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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