Shell Asset Management Co. Cuts Stock Position in The Hartford Insurance Group, Inc. $HIG

Shell Asset Management Co. lessened its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 67.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,212 shares of the insurance provider’s stock after selling 38,543 shares during the quarter. Shell Asset Management Co.’s holdings in The Hartford Insurance Group were worth $2,429,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in HIG. Ashton Thomas Private Wealth LLC purchased a new position in The Hartford Insurance Group in the 1st quarter valued at approximately $207,000. Concurrent Investment Advisors LLC grew its stake in The Hartford Insurance Group by 41.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 2,673 shares of the insurance provider’s stock worth $339,000 after purchasing an additional 787 shares in the last quarter. CWM LLC increased its holdings in The Hartford Insurance Group by 4.8% during the 2nd quarter. CWM LLC now owns 15,849 shares of the insurance provider’s stock worth $2,011,000 after purchasing an additional 720 shares during the period. Axxcess Wealth Management LLC acquired a new stake in The Hartford Insurance Group in the 2nd quarter valued at about $200,000. Finally, Sagespring Wealth Partners LLC boosted its stake in shares of The Hartford Insurance Group by 28.5% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 3,238 shares of the insurance provider’s stock valued at $411,000 after buying an additional 719 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Activity

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lori A. Rodden sold 5,681 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $141.83, for a total value of $805,736.23. Following the transaction, the executive vice president directly owned 18,400 shares in the company, valued at approximately $2,609,672. This represents a 23.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 343,928 shares of company stock valued at $47,393,256. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on HIG. Royal Bank Of Canada started coverage on shares of The Hartford Insurance Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 target price on the stock. Cantor Fitzgerald raised their price objective 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. Morgan Stanley lifted their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Piper Sandler increased their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Finally, Wall Street Zen downgraded The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Two 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.13.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $141.18 on Friday. The company has a fifty day moving average of $135.93 and a two-hundred day moving average of $132.44. The company has a market capitalization of $39.34 billion, a PE ratio of 10.58, a P/E/G ratio of 1.09 and a beta of 0.61. The Hartford Insurance Group, Inc. has a 1 year low of $107.49 and a 1 year high of $144.50. 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 (NYSE:HIG) last posted its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.84. The business had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.94 EPS. 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 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.