JPMorgan Chase & Co. Cuts Position in The Hartford Insurance Group, Inc. $HIG

JPMorgan Chase & Co. lowered its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 23.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,601,215 shares of the insurance provider’s stock after selling 817,482 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.93% of The Hartford Insurance Group worth $346,983,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. HighTower Advisors LLC raised its stake in shares of The Hartford Insurance Group by 2.4% during the 3rd quarter. HighTower Advisors LLC now owns 87,755 shares of the insurance provider’s stock worth $11,705,000 after buying an additional 2,037 shares during the period. CENTRAL TRUST Co increased its stake in shares of The Hartford Insurance Group by 60.5% during the third quarter. CENTRAL TRUST Co now owns 1,435 shares of the insurance provider’s stock worth $191,000 after purchasing an additional 541 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of The Hartford Insurance Group during the 3rd quarter worth about $108,000. Assetmark Inc. lifted its stake in The Hartford Insurance Group by 1.5% in the 3rd quarter. Assetmark Inc. now owns 743,489 shares of the insurance provider’s stock valued at $99,174,000 after buying an additional 11,158 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in The Hartford Insurance Group by 2.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 100,654 shares of the insurance provider’s stock worth $13,426,000 after buying an additional 2,203 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. The trade was a 31.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lori A. Rodden sold 5,681 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $141.83, for a total transaction of $805,736.23. Following the sale, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,609,672. This represents a 23.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 343,928 shares of company stock worth $47,393,256 in the last ninety days. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on HIG. Mizuho initiated coverage on The Hartford Insurance Group in a report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 target price for the company. Citigroup boosted their price target on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Roth Mkm raised their price objective on The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Wells Fargo & Company lifted their target price on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, Cantor Fitzgerald increased their target price on shares of The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.13.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $140.31 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 0.31. The stock’s fifty day moving average is $136.75 and its two-hundred day moving average is $132.87. The firm has a market capitalization of $39.10 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 1.48 and a beta of 0.61. The Hartford Insurance Group, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The business had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the company earned $2.94 EPS. On average, research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s payout ratio is 17.99%.

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.