The Hartford Insurance Group, Inc. $HIG Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC cut its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.8% in the second quarter, HoldingsChannel reports. The firm owned 94,698 shares of the insurance provider’s stock after selling 4,742 shares during the period. The Hartford Insurance Group accounts for about 0.9% of Clear Harbor Asset Management LLC’s holdings, making the stock its 24th biggest holding. Clear Harbor Asset Management LLC’s holdings in The Hartford Insurance Group were worth $12,014,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. NorthRock Partners LLC lifted its holdings in shares of The Hartford Insurance Group by 2.6% in the 1st quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider’s stock valued at $395,000 after buying an additional 80 shares during the period. Wayfinding Financial LLC lifted its holdings in The Hartford Insurance Group by 3.0% in the first quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider’s stock valued at $355,000 after acquiring an additional 84 shares during the period. Wealthspire Advisors LLC lifted its holdings in The Hartford Insurance Group by 3.2% in the first quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider’s stock valued at $356,000 after acquiring an additional 88 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of The Hartford Insurance Group by 29.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 400 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 91 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of 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 purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Down 0.4%

Shares of HIG opened at $130.90 on Monday. 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 market capitalization of $36.81 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72. The stock has a fifty day simple moving average of $128.62 and a two-hundred day simple moving average of $125.03. 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) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the company earned $2.50 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be issued 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%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted 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 research note on Wednesday, July 30th. Citigroup began coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price objective for the company. Barclays reduced their price target on The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a report on Monday, July 7th. UBS Group upped their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, August 4th. Finally, Morgan Stanley upped 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. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $138.00.

Insider Buying and Selling

In other news, CFO Beth Ann Costello sold 35,340 shares of the firm’s 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 completion of the sale, the chief financial officer 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction that occurred 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. 1.60% of the stock is owned by company insiders.

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.