Jupiter Asset Management Ltd. Cuts Position in The Hartford Insurance Group, Inc. $HIG

Jupiter Asset Management Ltd. trimmed its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 9.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 465,897 shares of the insurance provider’s stock after selling 48,226 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.17% of The Hartford Insurance Group worth $62,146,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of HIG. Armstrong Advisory Group Inc. lifted its stake in The Hartford Insurance Group by 5.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock worth $195,000 after acquiring an additional 80 shares in the last quarter. Mather Group LLC. increased its stake in The Hartford Insurance Group by 4.5% during the third quarter. Mather Group LLC. now owns 1,929 shares of the insurance provider’s stock worth $257,000 after purchasing an additional 83 shares during the period. Chicago Partners Investment Group LLC increased its stake in The Hartford Insurance Group by 3.6% during the second quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock worth $303,000 after purchasing an additional 85 shares during the period. Monument Capital Management lifted its position in shares of The Hartford Insurance Group by 0.4% during the third quarter. Monument Capital Management now owns 24,314 shares of the insurance provider’s stock worth $3,243,000 after purchasing an additional 85 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in shares of The Hartford Insurance Group by 4.4% in the second quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider’s stock valued at $262,000 after purchasing an additional 86 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The Hartford Insurance Group

In related news, 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 transaction of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares of the company’s stock, valued at $10,595,056.92. This represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lori A. Rodden sold 5,681 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $141.83, for a total transaction of $805,736.23. Following the completion of the transaction, the executive vice president directly owned 18,400 shares of the company’s stock, valued at approximately $2,609,672. This trade represents a 23.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 343,928 shares of company stock worth $47,393,256. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the topic of several recent research reports. Wall Street Zen downgraded shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. UBS Group boosted their price target on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Cantor Fitzgerald increased their price objective on The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Mizuho began coverage on The Hartford Insurance Group in a report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 target price for the company. Finally, Royal Bank Of Canada assumed coverage on The Hartford Insurance Group in a report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, The Hartford Insurance Group 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 fifty day moving average of $136.75 and a two-hundred day moving average of $132.87. The company has a market capitalization of $39.10 billion, a PE ratio of 10.52, a P/E/G ratio of 1.48 and a beta of 0.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.32. The Hartford Insurance Group, Inc. has a 1 year low of $107.49 and a 1 year high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The company had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.94 earnings per share. As a group, analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be paid a dividend of $0.60 per share. The ex-dividend date 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 dividend payout ratio 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.