Grantham Mayo Van Otterloo & Co. LLC Sells 23,521 Shares of The Hartford Insurance Group, Inc. $HIG

Grantham Mayo Van Otterloo & Co. LLC lowered its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 17.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,039 shares of the insurance provider’s stock after selling 23,521 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in The Hartford Insurance Group were worth $15,078,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its stake in The Hartford Insurance Group by 24.9% during the third quarter. Allianz Asset Management GmbH now owns 706,293 shares of the insurance provider’s stock worth $94,212,000 after acquiring an additional 140,624 shares in the last quarter. Canada Post Corp Registered Pension Plan increased its stake in The Hartford Insurance Group by 252.7% in the third quarter. Canada Post Corp Registered Pension Plan now owns 24,540 shares of the insurance provider’s stock valued at $3,245,000 after purchasing an additional 17,582 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of The Hartford Insurance Group by 109.2% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,174 shares of the insurance provider’s stock valued at $3,358,000 after purchasing an additional 13,138 shares during the period. National Pension Service raised its holdings in shares of The Hartford Insurance Group by 6.7% during the third quarter. National Pension Service now owns 509,580 shares of the insurance provider’s stock valued at $67,973,000 after purchasing an additional 31,912 shares during the period. Finally, Raiffeisen Bank International AG boosted its position in shares of The Hartford Insurance Group by 102.0% during the 3rd quarter. Raiffeisen Bank International AG now owns 20,709 shares of the insurance provider’s stock worth $2,739,000 after purchasing an additional 10,455 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Christopher Swift sold 201,938 shares of The Hartford Insurance Group stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the transaction, the chief executive officer owned 194,817 shares of the company’s stock, valued at $26,574,986.97. The trade was a 50.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Beth Ann Costello sold 35,339 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the sale, the chief financial officer owned 77,574 shares of the company’s stock, valued at $10,595,056.92. This trade represents a 31.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 343,928 shares of company stock worth $47,393,256 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HIG has been the subject of several research reports. Morgan Stanley raised their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Argus increased their price target on The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Wells Fargo & Company raised their price objective on The Hartford Insurance Group from $153.00 to $156.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Evercore boosted their price objective on The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. upped their target price on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $148.13.

The Hartford Insurance Group Trading Down 0.3%

NYSE:HIG opened at $139.32 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a one year low of $107.49 and a one year high of $144.50. The company has a market cap of $38.43 billion, a PE ratio of 10.44, a PEG ratio of 1.35 and a beta of 0.60. The firm has a 50-day moving average of $137.25 and a 200-day moving average of $133.80.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.84. The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.94 EPS. As a group, equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 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.