Edgestream Partners L.P. Lowers Holdings in The Hartford Insurance Group, Inc. $HIG

Edgestream Partners L.P. trimmed its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 69.5% during the 1st quarter, Holdings Channel reports. The fund owned 2,672 shares of the insurance provider’s stock after selling 6,087 shares during the quarter. Edgestream Partners L.P.’s holdings in The Hartford Insurance Group were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. First Pacific Financial acquired a new position in The Hartford Insurance Group in the first quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $26,000. Phillip James Consulting Co. acquired a new stake in shares of The Hartford Insurance Group during the 1st quarter worth approximately $29,000. Sunbelt Securities Inc. acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of The Hartford Insurance Group during the 4th quarter valued at approximately $36,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $143.50 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The company has a fifty day moving average of $135.01 and a two-hundred day moving average of $135.96. The stock has a market capitalization of $38.87 billion, a PE ratio of 9.28, a P/E/G ratio of 3.48 and a beta of 0.46. The Hartford Insurance Group, Inc. has a fifty-two week low of $120.33 and a fifty-two week high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $0.26. The business had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.41 earnings per share. As a group, research analysts forecast that The Hartford Insurance Group, Inc. will post 12.84 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 15.51%.

Analyst Upgrades and Downgrades

Several research firms recently commented on HIG. Royal Bank Of Canada raised their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Keefe, Bruyette & Woods lifted their price target on The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. UBS Group reduced their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a report on Monday, April 27th. Finally, Piper Sandler reiterated a “neutral” rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $149.67.

Insider Transactions at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 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.