The Hartford Insurance Group, Inc. $HIG Stock Holdings Reduced by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co cut its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 49.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,015 shares of the insurance provider’s stock after selling 4,944 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in The Hartford Insurance Group were worth $669,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new position in The Hartford Insurance Group in the third quarter worth approximately $27,000. Cornerstone Planning Group LLC lifted its stake in The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 184 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its position in 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 worth $30,000 after acquiring an additional 99 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of The Hartford Insurance Group during the 2nd quarter worth $35,000. Finally, Addison Advisors LLC increased its stake in shares of The Hartford Insurance Group by 129.3% during the 2nd quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Beth Ann Costello sold 35,339 shares of the company’s 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 completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lori A. Rodden sold 5,681 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $141.83, for a total value of $805,736.23. Following the completion of the sale, the executive vice president directly owned 18,400 shares of the company’s stock, valued at $2,609,672. This represents a 23.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 343,928 shares of company stock valued at $47,393,256 in the last three months. Company insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $139.32 on Monday. The company has a market capitalization of $38.43 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.35 and a beta of 0.60. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a one year low of $107.49 and a one year high of $144.50. The company’s fifty day moving average price is $137.25 and its 200 day moving average price is $133.80.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.94 earnings per share. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, March 2nd. The Hartford Insurance Group’s payout ratio is currently 17.99%.

Analyst Upgrades and Downgrades

HIG has been the subject of several analyst reports. Evercore lifted their price objective on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a research note on Wednesday, January 7th. Citigroup raised their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Cantor Fitzgerald boosted their price target on The Hartford Insurance Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. upped their price target on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Finally, Wells Fargo & Company raised their price objective on The Hartford Insurance Group from $153.00 to $156.00 and gave the company 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 assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $148.13.

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.