Mutual of America Capital Management LLC Reduces Holdings in The Hartford Insurance Group, Inc. $HIG

Mutual of America Capital Management LLC lowered its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 18.2% during the second quarter, Holdings Channel reports. The firm owned 59,345 shares of the insurance provider’s stock after selling 13,222 shares during the quarter. Mutual of America Capital Management LLC’s holdings in The Hartford Insurance Group were worth $7,529,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Woodline Partners LP lifted its stake in The Hartford Insurance Group by 28,218.5% in the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock valued at $93,763,000 after buying an additional 755,128 shares during the last quarter. Nuveen LLC purchased a new stake in The Hartford Insurance Group in the 1st quarter valued at $87,516,000. Bahl & Gaynor Inc. raised its position in The Hartford Insurance Group by 47.0% in the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock valued at $264,972,000 after purchasing an additional 684,390 shares during the last quarter. Amundi grew its position in The Hartford Insurance Group by 27.4% during the 1st quarter. Amundi now owns 1,943,498 shares of the insurance provider’s stock worth $239,905,000 after purchasing an additional 417,951 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in The Hartford Insurance Group by 38.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,493,077 shares of the insurance provider’s stock valued at $189,427,000 after purchasing an additional 414,216 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HIG shares. Wolfe Research started coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. boosted their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Evercore ISI lifted their price objective on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Piper Sandler upped their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.07.

Insider Activity at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the sale, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $123.84 on Tuesday. The company has a 50-day simple moving average of $131.34 and a 200-day simple moving average of $126.57. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $34.82 billion, a PE ratio of 11.23, a P/E/G ratio of 1.20 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the previous year, the firm earned $2.50 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Equities research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd were issued a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s payout ratio is 18.86%.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.