The Hartford Insurance Group, Inc. $HIG Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. lessened its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 29.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,490 shares of the insurance provider’s stock after selling 18,345 shares during the period. Sit Investment Associates Inc.’s holdings in The Hartford Insurance Group were worth $5,993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group in the third quarter valued at approximately $26,000. Sunbelt Securities Inc. bought a new position in shares of The Hartford Insurance Group during the third quarter valued at approximately $29,000. United Financial Planning Group LLC acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. Barnes Dennig Private Wealth Management LLC lifted its holdings in shares of The Hartford Insurance Group by 144.8% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 152 shares during the last quarter. Finally, Fideuram Asset Management Ireland dac bought a new stake in shares of The Hartford Insurance Group in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Buying and Selling at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction dated 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 sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of recent research reports. UBS Group lowered their price objective 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. Piper Sandler cut their target price on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a research note on Thursday, June 11th. Keefe, Bruyette & Woods reduced their price target on shares of 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. Barclays lowered their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Finally, Wells Fargo & Company cut their price objective on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.31.

The Hartford Insurance Group Stock Up 0.0%

HIG opened at $128.26 on Friday. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. 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 stock has a market cap of $35.16 billion, a P/E ratio of 9.01, a P/E/G ratio of 2.33 and a beta of 0.47. The stock’s 50 day moving average price is $133.61 and its 200 day moving average price is $135.40.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the firm earned $2.20 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts predict that The Hartford Insurance Group, Inc. will post 13.03 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

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