Knollwood Investment Advisory LLC Sells 7,146 Shares of The Hartford Insurance Group, Inc. $HIG

Knollwood Investment Advisory LLC reduced its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 31.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,700 shares of the insurance provider’s stock after selling 7,146 shares during the quarter. Knollwood Investment Advisory LLC’s holdings in The Hartford Insurance Group were worth $2,163,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HIG. Northwestern Mutual Wealth Management Co. increased its holdings in The Hartford Insurance Group by 286,241.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after buying an additional 73,835,976 shares during the period. Norges Bank acquired a new stake in shares of The Hartford Insurance Group in the 4th quarter valued at approximately $611,724,000. Allianz Asset Management GmbH boosted its stake in shares of The Hartford Insurance Group by 131.1% in the 4th quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider’s stock valued at $224,901,000 after purchasing an additional 925,789 shares in the last quarter. Danske Bank A S acquired a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at approximately $91,398,000. Finally, Balyasny Asset Management L.P. boosted its stake in shares of The Hartford Insurance Group by 6,431.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock valued at $85,829,000 after purchasing an additional 633,592 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Stock Up 0.8%

NYSE:HIG opened at $129.49 on Friday. The firm’s 50 day simple moving average is $134.34 and its 200 day simple moving average is $135.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a one year low of $119.61 and a one year high of $144.50. The company has a market cap of $35.50 billion, a PE ratio of 9.10, a P/E/G ratio of 2.35 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts anticipate that The Hartford Insurance Group, Inc. will post 13.05 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be given a dividend of $0.60 per share. The ex-dividend date is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.87%.

Insider Buying and Selling

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Mizuho cut their price objective on The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. UBS Group reduced their price objective on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Bank of America upped their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods lowered their target price on The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating for the company in a report on Thursday, June 4th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.31.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.