Clearbridge Investments LLC Has $49.88 Million Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Clearbridge Investments LLC cut its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 361,968 shares of the insurance provider’s stock after selling 12,161 shares during the period. Clearbridge Investments LLC’s holdings in The Hartford Insurance Group were worth $49,879,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at about $26,000. Sunbelt Securities Inc. acquired a new position in The Hartford Insurance Group during the 3rd quarter valued at about $29,000. United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group during the 3rd quarter valued at about $29,000. Barnes Dennig Private Wealth Management LLC boosted its stake in The Hartford Insurance Group by 144.8% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 152 shares during the last quarter. Finally, Fideuram Asset Management Ireland dac acquired a new position in The Hartford Insurance Group during the 4th quarter valued at about $36,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HIG shares. Wells Fargo & Company cut their price target on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research note on Friday. Bank of America lifted their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Barclays cut their price target on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Mizuho cut their price target on The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating for the company in a research note on Friday. Finally, UBS Group cut their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.19.

The Hartford Insurance Group Trading Down 3.3%

NYSE:HIG opened at $127.72 on Tuesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $35.01 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 2.38 and a beta of 0.47. The firm’s 50 day moving average is $134.75 and its 200 day moving average is $135.83. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $2.20 EPS. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 13.12 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business 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 $0.60 dividend. 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 payout ratio is 16.87%.

The Hartford Insurance Group 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.