Newport Trust Company LLC Has $338.95 Million Stake in The Hartford Insurance Group, Inc. $HIG

Newport Trust Company LLC decreased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.9% during the 4th quarter, HoldingsChannel reports. The fund owned 2,459,709 shares of the insurance provider’s stock after selling 72,619 shares during the period. The Hartford Insurance Group comprises approximately 0.8% of Newport Trust Company LLC’s portfolio, making the stock its 23rd largest holding. Newport Trust Company LLC’s holdings in The Hartford Insurance Group were worth $338,948,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at $26,000. Cornerstone Planning Group LLC boosted its holdings in shares of The Hartford Insurance Group by 707.7% during the 3rd 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 in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at $29,000. United Financial Planning Group LLC acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC boosted its holdings in shares of The Hartford Insurance Group by 144.8% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 152 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Activity

In related news, EVP Lori A. Rodden sold 40,693 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the sale, the executive vice president owned 25,392 shares in the company, valued at $3,505,365.60. This represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

The Hartford Insurance Group Trading Down 0.5%

NYSE HIG opened at $136.02 on Friday. The business’s 50-day moving average price is $135.66 and its two-hundred day moving average price is $135.84. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. The firm has a market capitalization of $37.29 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 2.46 and a beta of 0.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter last year, the firm posted $2.20 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts expect that The Hartford Insurance Group, Inc. will post 13.14 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s payout ratio is 16.87%.

Analysts Set New Price Targets

Several research firms recently weighed in on HIG. Mizuho raised their price objective on The Hartford Insurance Group from $158.00 to $159.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Barclays cut their price objective on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Citigroup raised their price objective 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. Bank of America raised their price objective on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Finally, Morgan Stanley upped their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.31.

About The Hartford Insurance Group

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.