Carret Asset Management LLC Sells 1,075 Shares of The Hartford Insurance Group, Inc. $HIG

Carret Asset Management LLC cut its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,457 shares of the insurance provider’s stock after selling 1,075 shares during the quarter. The Hartford Insurance Group makes up approximately 0.8% of Carret Asset Management LLC’s investment portfolio, making the stock its 29th largest holding. Carret Asset Management LLC’s holdings in The Hartford Insurance Group were worth $7,797,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Savvy Advisors Inc. raised its position in shares of The Hartford Insurance Group by 10.6% in the second quarter. Savvy Advisors Inc. now owns 2,338 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 224 shares during the period. Keybank National Association OH raised its position in shares of The Hartford Insurance Group by 4.1% in the second quarter. Keybank National Association OH now owns 14,382 shares of the insurance provider’s stock valued at $1,825,000 after purchasing an additional 569 shares during the period. Premier Path Wealth Partners LLC raised its position in shares of The Hartford Insurance Group by 8.9% in the second quarter. Premier Path Wealth Partners LLC now owns 2,191 shares of the insurance provider’s stock valued at $278,000 after purchasing an additional 179 shares during the period. Spire Wealth Management raised its position in shares of The Hartford Insurance Group by 202.6% in the second quarter. Spire Wealth Management now owns 14,550 shares of the insurance provider’s stock valued at $1,825,000 after purchasing an additional 9,741 shares during the period. Finally, Daymark Wealth Partners LLC raised its position in shares of The Hartford Insurance Group by 9.0% in the second quarter. Daymark Wealth Partners LLC now owns 1,780 shares of the insurance provider’s stock valued at $226,000 after purchasing an additional 147 shares during the period. 93.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Beth Ann Costello sold 35,340 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the sale, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Trading Down 0.3%

Shares of The Hartford Insurance Group stock opened at $122.37 on Thursday. The company has a market capitalization of $34.41 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 1.18 and a beta of 0.69. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.17. The firm’s 50-day moving average price is $130.40 and its two-hundred day moving average price is $127.11.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The company had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the company posted $2.53 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio is 19.61%.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price target on the stock. Wolfe Research initiated coverage on shares of The Hartford Insurance Group in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Wells Fargo & Company lowered their price target on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods raised their price target on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Finally, Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Saturday, October 25th. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $139.57.

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.