SG Americas Securities LLC Has $9.57 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

SG Americas Securities LLC reduced its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 81.1% during the 1st quarter, HoldingsChannel reports. The firm owned 70,746 shares of the insurance provider’s stock after selling 304,384 shares during the quarter. SG Americas Securities LLC’s holdings in The Hartford Insurance Group were worth $9,567,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Triad Wealth Partners LLC bought a new stake in The Hartford Insurance Group in the first quarter valued at $246,000. Baron Wealth Management LLC lifted its holdings in shares of The Hartford Insurance Group by 12.9% during the first quarter. Baron Wealth Management LLC now owns 1,809 shares of the insurance provider’s stock valued at $245,000 after acquiring an additional 207 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of The Hartford Insurance Group by 137.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 118,665 shares of the insurance provider’s stock valued at $16,352,000 after acquiring an additional 68,765 shares during the period. World Investment Advisors boosted its stake in shares of The Hartford Insurance Group by 59.4% in the 4th quarter. World Investment Advisors now owns 6,304 shares of the insurance provider’s stock valued at $869,000 after purchasing an additional 2,349 shares in the last quarter. Finally, Larry Mathis Financial Planning LLC acquired a new stake in shares of The Hartford Insurance Group in the 4th quarter valued at $234,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on HIG shares. Bank of America increased their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods reduced their price target on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a research report on Thursday, June 4th. Cantor Fitzgerald decreased their price objective on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Piper Sandler dropped their price objective on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a report on Thursday, June 11th. Finally, UBS Group cut their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.31.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Trading Up 2.8%

Shares of NYSE HIG opened at $133.99 on Friday. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50. The company has a 50-day moving average of $132.87 and a two-hundred day moving average of $135.35. The company has a market cap of $36.73 billion, a PE ratio of 9.42, a P/E/G ratio of 2.45 and a beta of 0.47. 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 the consensus estimate of $3.39 by ($0.30). The company had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The Hartford Insurance Group’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. As a group, equities analysts expect that The Hartford Insurance Group, Inc. will post 12.9 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is currently 16.87%.

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.