WBI Investments LLC Sells 4,247 Shares of The Hartford Insurance Group, Inc. $HIG

WBI Investments LLC decreased its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 35.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,803 shares of the insurance provider’s stock after selling 4,247 shares during the period. WBI Investments LLC’s holdings in The Hartford Insurance Group were worth $1,041,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of The Hartford Insurance Group by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 37,160,644 shares of the insurance provider’s stock worth $4,714,571,000 after buying an additional 156,807 shares during the last quarter. State Street Corp increased its position in shares of The Hartford Insurance Group by 0.4% during the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock valued at $2,146,749,000 after acquiring an additional 55,983 shares during the last quarter. Invesco Ltd. lifted its holdings in The Hartford Insurance Group by 10.3% during the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after acquiring an additional 496,821 shares during the period. Nordea Investment Management AB lifted its holdings in The Hartford Insurance Group by 5.3% during the third quarter. Nordea Investment Management AB now owns 4,307,617 shares of the insurance provider’s stock worth $570,328,000 after acquiring an additional 215,941 shares during the period. Finally, Norges Bank purchased a new position in The Hartford Insurance Group in the second quarter worth $506,329,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $135.35 on Wednesday. The firm’s 50 day moving average is $136.90 and its 200 day moving average is $133.92. The stock has a market capitalization of $37.34 billion, a P/E ratio of 10.15, a PEG ratio of 1.31 and a beta of 0.60. The Hartford Insurance Group, Inc. has a 12 month low of $107.49 and a 12 month high of $144.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the business earned $2.94 EPS. The Hartford Insurance Group’s revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be given a $0.60 dividend. The ex-dividend date is Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group’s payout ratio is 17.99%.

Insider Activity

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the transaction, the executive vice president owned 25,392 shares in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Swift sold 201,938 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $136.41, for a total value of $27,546,362.58. Following the completion of the transaction, the chief executive officer owned 194,817 shares of the company’s stock, valued at approximately $26,574,986.97. This represents a 50.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 384,621 shares of company stock worth $53,010,925. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Mizuho assumed coverage on The Hartford Insurance Group in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price objective for the company. JPMorgan Chase & Co. lifted their target price 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. Evercore increased their price target on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a research report on Wednesday, January 7th. Wells Fargo & Company raised their price objective on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Finally, Weiss Ratings raised shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.13.

The Hartford Insurance Group Company 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.