Prossimo Advisors LLC Reduces Stock Position in The Hartford Insurance Group, Inc. $HIG

Prossimo Advisors LLC reduced its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 33.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,660 shares of the insurance provider’s stock after selling 4,785 shares during the period. The Hartford Insurance Group makes up about 1.0% of Prossimo Advisors LLC’s holdings, making the stock its 20th largest holding. Prossimo Advisors LLC’s holdings in The Hartford Insurance Group were worth $1,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in HIG. Norges Bank bought a new position in The Hartford Insurance Group in the 2nd quarter worth about $506,329,000. Franklin Resources Inc. increased its position in shares of The Hartford Insurance Group by 51.5% during the second quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider’s stock valued at $414,632,000 after buying an additional 1,111,659 shares during the period. Woodline Partners LP lifted its holdings in shares of The Hartford Insurance Group by 28,218.5% in the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock worth $93,763,000 after buying an additional 755,128 shares in the last quarter. Nuveen LLC purchased a new stake in shares of The Hartford Insurance Group in the first quarter worth about $87,516,000. Finally, Bahl & Gaynor Inc. boosted its position in shares of The Hartford Insurance Group by 47.0% in the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock valued at $264,972,000 after acquiring an additional 684,390 shares during the period. 93.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the sale, the executive vice president directly owned 18,400 shares of the company’s stock, valued at $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm’s 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 is available in the SEC filing. 1.50% of the stock is currently owned by company insiders.

The Hartford Insurance Group Price Performance

HIG opened at $137.03 on Monday. The stock has a market capitalization of $38.18 billion, a P/E ratio of 11.19, a PEG ratio of 1.19 and a beta of 0.69. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $138.64. The stock has a 50-day moving average price of $130.30 and a 200-day moving average price of $128.66.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the company posted $2.53 EPS. The Hartford Insurance Group’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be paid a $0.60 dividend. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HIG. JPMorgan Chase & Co. upped their target price on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Morgan Stanley upped their price target on shares of The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Evercore ISI lifted their price objective on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Wolfe Research assumed coverage on The Hartford Insurance Group in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Finally, Argus raised their price target on The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.29.

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.