Janney Montgomery Scott LLC Trims Stock Position in The Hartford Insurance Group, Inc. $HIG

Janney Montgomery Scott LLC cut its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.1% in the first quarter, HoldingsChannel reports. The firm owned 145,456 shares of the insurance provider’s stock after selling 4,589 shares during the period. Janney Montgomery Scott LLC’s holdings in The Hartford Insurance Group were worth $19,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. JPL Wealth Management LLC purchased a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at about $26,000. United Financial Planning Group LLC purchased a new stake in shares of The Hartford Insurance Group in the third quarter worth about $29,000. Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group during the third quarter worth about $29,000. Barnes Dennig Private Wealth Management LLC grew its holdings in The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 152 shares during the period. Finally, Sound Income Strategies LLC raised its position in The Hartford Insurance Group by 45.3% during the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 87 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

The Hartford Insurance Group Trading Down 0.8%

Shares of HIG stock opened at $132.47 on Wednesday. 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 market cap of $36.31 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 2.45 and a beta of 0.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a 50 day simple moving average of $132.63 and a 200-day simple moving average of $135.43.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The company had revenue of $7.23 billion during the quarter, compared to analyst estimates 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 was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.20 EPS. On average, equities research analysts expect that The Hartford Insurance Group, Inc. will post 12.9 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Cantor Fitzgerald lowered their price objective on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Wells Fargo & Company cut their target price on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a report on Friday, June 5th. UBS Group lowered their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Barclays dropped their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Finally, Bank of America lifted their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $147.31.

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.