The Hartford Insurance Group, Inc. $HIG Shares Sold by Groupama Asset Managment

Groupama Asset Managment lowered its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 48.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,711 shares of the insurance provider’s stock after selling 8,242 shares during the period. Groupama Asset Managment’s holdings in The Hartford Insurance Group were worth $1,178,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new position in The Hartford Insurance Group in the first quarter valued at $4,131,000. Abacus Wealth Partners LLC purchased a new stake in The Hartford Insurance Group during the fourth quarter valued at about $1,971,000. SEB Asset Management AB acquired a new stake in The Hartford Insurance Group during the first quarter worth about $69,310,000. Strs Ohio increased its stake in The Hartford Insurance Group by 4.7% during the first quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock worth $26,994,000 after acquiring an additional 8,890 shares during the last quarter. Finally, Arbejdsmarkedets Tillaegspension raised its holdings in shares of The Hartford Insurance Group by 4.6% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock worth $25,303,000 after purchasing an additional 8,250 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $141.97 on Friday. The company has a market capitalization of $38.46 billion, a PE ratio of 9.18, a price-to-earnings-growth ratio of 3.48 and a beta of 0.47. The firm has a fifty day simple moving average of $134.51 and a 200-day simple moving average of $135.72. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the firm posted $3.41 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.84 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s payout ratio is presently 15.51%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Keefe, Bruyette & Woods raised their price target on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Barclays reduced their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Mizuho increased their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada raised their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $149.67.

Insider Activity

In related news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

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.