The Hartford Insurance Group, Inc. $HIG Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.0% during the third quarter, Holdings Channel.com reports. The firm owned 639,994 shares of the insurance provider’s stock after selling 19,694 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in The Hartford Insurance Group were worth $78,310,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MidFirst Bank bought a new stake in The Hartford Insurance Group during the 2nd quarter valued at $26,000. Navigoe LLC bought a new position in The Hartford Insurance Group in the 2nd quarter valued at about $27,000. Phillip James Consulting Co. bought a new position in The Hartford Insurance Group in the 1st quarter valued at about $29,000. Polaris Financial Partners acquired a new position in The Hartford Insurance Group during the 3rd quarter valued at about $27,000. Finally, Clearstead Trust LLC acquired a new position in The Hartford Insurance Group during the 2nd quarter valued at about $29,000. 93.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on HIG. Truist Financial began coverage on The Hartford Insurance Group in a research note on Monday, October 12th. They issued a “hold” rating and a $137.00 price objective for the company. Piper Sandler cut The Hartford Insurance Group from an “overweight” rating to a “neutral” rating and cut their target price for the company from $148.00 to $146.00 in a research report on Wednesday, July 15th. Mizuho decreased their price target on The Hartford Insurance Group from $154.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Cantor Fitzgerald lowered their price target on The Hartford Insurance Group from $145.00 to $136.00 and set an “overweight” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price objective on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, The Hartford Insurance Group currently has an average rating of “Hold” and a consensus price target of $144.69.

The Hartford Insurance Group Stock Down 0.6%

Shares of NYSE HIG opened at $134.76 on Wednesday. The Hartford Insurance Group, Inc. has a one year low of $120.42 and a one year high of $146.07. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.28 and a quick ratio of 0.28. The business’s fifty day moving average price is $132.87 and its 200-day moving average price is $135.39. The stock has a market capitalization of $36.04 billion, a PE ratio of 8.16, a P/E/G ratio of 1.91 and a beta of 0.48.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Monday, October 26th. The insurance provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.17 by $0.33. The business had revenue of $7.22 billion for the quarter, compared to the consensus estimate of $7.37 billion. The Hartford Insurance Group had a net margin of 15.85% and a return on equity of 20.93%. The Hartford Insurance Group’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $3.78 earnings per share. On average, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 13.28 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.67 per share. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, December 1st. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.0%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 14.53%.

The Hartford Insurance Group Profile

The Hartford Insurance Group, Inc, commonly known as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits, and related services to businesses, individuals, and organizations primarily in the United States.

The Hartford’s commercial insurance operations offer coverage for businesses of various sizes, including commercial auto, workers’ compensation, property, general liability, and specialty insurance.