The Hartford Insurance Group, Inc. $HIG Stock: Lockheed Martin Investment Management Co. Reduces Holdings

Lockheed Martin Investment Management Co. reduced its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 32.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 51,450 shares of the insurance provider’s stock after selling 24,680 shares during the period. Lockheed Martin Investment Management Co.’s holdings in The Hartford Insurance Group were worth $6,295,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MidFirst Bank purchased a new stake in The Hartford Insurance Group during the second quarter valued at about $26,000. Navigoe LLC purchased a new position in shares of The Hartford Insurance Group in the 2nd quarter worth about $27,000. Polaris Financial Partners purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter worth about $27,000. Phillip James Consulting Co. purchased a new position in shares of The Hartford Insurance Group in the 1st quarter worth about $29,000. Finally, Clearstead Trust LLC acquired a new position in shares of The Hartford Insurance Group in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Trading Up 0.7%

Shares of HIG opened at $134.88 on Tuesday. The Hartford Insurance Group, Inc. has a 12 month low of $120.42 and a 12 month high of $146.07. The stock’s 50-day moving average is $132.66 and its two-hundred day moving average is $135.52. 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 stock has a market cap of $36.07 billion, a PE ratio of 8.16, a P/E/G ratio of 1.94 and a beta of 0.48.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly 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 Hartford Insurance Group had a net margin of 15.85% and a return on equity of 20.93%. The business had revenue of $7.22 billion during the quarter, compared to analyst estimates of $7.37 billion. During the same period last year, the business earned $3.78 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Equities analysts forecast that The Hartford Insurance Group, Inc. will post 13.34 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 1st will be paid a $0.67 dividend. This is a boost 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%.

Insider Activity at The Hartford Insurance Group

In other news, CFO Beth Costello sold 31,597 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $135.75, for a total transaction of $4,289,292.75. Following the transaction, the chief financial officer owned 82,988 shares of the company’s stock, valued at approximately $11,265,621. This trade represents a 27.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HIG shares. Mizuho decreased their target price 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. Weiss Ratings upgraded shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Zacks Research raised shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. UBS Group decreased their price objective on shares of The Hartford Insurance Group from $155.00 to $149.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. Finally, Truist Financial began coverage on shares of The Hartford Insurance Group in a research report on Monday, October 12th. They issued a “hold” rating and a $137.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $144.69.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, Inc, known as The Hartford, is a U.S.-based insurance company founded in 1810 and headquartered in Hartford, Connecticut. It provides property and casualty insurance and employee benefits to businesses, organizations and individuals.

Its commercial insurance offerings include coverage such as workers’ compensation, general liability, commercial auto and property insurance. The company also provides group benefits, including life, disability and leave-management products, along with personal auto and homeowners insurance, which it offers through arrangements including its relationship with AARP.

The Hartford serves customers primarily in the United States, with select international operations.