AdvisorShares Investments LLC Sells 723 Shares of The Hartford Insurance Group, Inc. $HIG

AdvisorShares Investments LLC trimmed its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 16.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,577 shares of the insurance provider’s stock after selling 723 shares during the quarter. AdvisorShares Investments LLC’s holdings in The Hartford Insurance Group were worth $454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Private Wealth Management Group LLC boosted its holdings in shares of The Hartford Insurance Group by 151.1% in the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 133 shares during the period. Park Square Financial Group LLC boosted its holdings in shares of The Hartford Insurance Group by 146.2% in the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 155 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of The Hartford Insurance Group by 123.8% in the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 161 shares during the period. Signature Resources Capital Management LLC purchased a new stake in shares of The Hartford Insurance Group in the second quarter valued at approximately $38,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of The Hartford Insurance Group in the first quarter valued at about $43,000. 93.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Cantor Fitzgerald assumed coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 price objective for the company. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Saturday, October 25th. Citigroup assumed coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an “outperform” rating in a report on Monday, August 4th. Finally, Barclays decreased their price objective on The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a report on Monday, July 7th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $139.57.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $123.36 on Friday. The company has a market capitalization of $34.37 billion, a PE ratio of 10.08, a P/E/G ratio of 1.19 and a beta of 0.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.32. The company has a 50-day simple moving average of $130.20 and a two-hundred day simple moving average of $127.08. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17.

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

The Hartford Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, December 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.99%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the transaction, 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 position. The SEC filing for this sale provides additional information. Corporate insiders own 1.50% of the company’s stock.

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.