Magnetar Financial LLC Sells 55,196 Shares of The Hartford Insurance Group, Inc. $HIG

Magnetar Financial LLC lessened its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 78.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,940 shares of the insurance provider’s stock after selling 55,196 shares during the period. Magnetar Financial LLC’s holdings in The Hartford Insurance Group were worth $1,993,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC grew its stake in The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 184 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of The Hartford Insurance Group during the third quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of The Hartford Insurance Group by 72.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 99 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of The Hartford Insurance Group in the second quarter valued at approximately $35,000. Finally, Financial Gravity Companies Inc. bought a new position in The Hartford Insurance Group in the second quarter worth approximately $44,000. Institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on HIG. Piper Sandler raised their price objective on The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Citigroup increased their price target on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. JPMorgan Chase & Co. raised their price target on The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Cantor Fitzgerald boosted their price target on shares of The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Finally, Wells Fargo & Company upped their price objective on The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $148.13.

The Hartford Insurance Group Stock Down 0.4%

The Hartford Insurance Group stock opened at $134.46 on Friday. The Hartford Insurance Group, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $144.50. The business’s 50-day simple moving average is $137.08 and its two-hundred day simple moving average is $133.87. 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 market cap of $37.09 billion, a PE ratio of 10.08, a PEG ratio of 1.31 and a beta of 0.60.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the previous year, the business posted $2.94 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s payout ratio is presently 17.99%.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $10,595,056.92. This represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the transaction, the executive vice president owned 25,392 shares in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 384,621 shares of company stock worth $53,010,925 in the last three months. Company insiders own 1.50% of the company’s stock.

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.