The Hartford Insurance Group, Inc. $HIG Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH cut its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 58.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,006 shares of the insurance provider’s stock after selling 16,680 shares during the quarter. Erste Asset Management GmbH’s holdings in The Hartford Insurance Group were worth $1,588,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HIG. Cornerstone Planning Group LLC increased its stake in shares of 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 purchasing an additional 184 shares during the period. Princeton Global Asset Management LLC acquired a new position in shares of The Hartford Insurance Group during the third quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC boosted its position in shares of The Hartford Insurance Group by 72.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after buying an additional 99 shares during the period. Elevation Point Wealth Partners LLC bought a new position in The Hartford Insurance Group in the 2nd quarter worth approximately $35,000. Finally, Addison Advisors LLC increased its position in The Hartford Insurance Group by 129.3% in the 2nd quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 181 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HIG. Morgan Stanley boosted their price target on 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. Roth Mkm lifted their price objective on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Citigroup upped their price objective on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. UBS Group increased their target price on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, Piper Sandler raised their target price on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Two equities research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.13.

Insider Buying and Selling

In other news, CEO Christopher Swift sold 100,970 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the completion of the sale, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at $27,426,337.26. This trade represents a 34.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lori A. Rodden sold 5,681 shares of The Hartford Insurance Group stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $141.83, for a total value of $805,736.23. Following the completion of the transaction, the executive vice president owned 18,400 shares in the company, valued at $2,609,672. The trade was a 23.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 343,928 shares of company stock worth $47,393,256. Corporate insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Trading Down 0.3%

Shares of HIG stock opened at $140.69 on Monday. The stock has a 50-day simple moving average of $137.11 and a 200 day simple moving average of $133.47. The Hartford Insurance Group, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $144.50. The stock has a market capitalization of $38.81 billion, a P/E ratio of 10.55, a P/E/G ratio of 1.37 and a beta of 0.60. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the previous year, the business earned $2.94 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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

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.