The Hartford Insurance Group, Inc. $HIG Stock Position Reduced by Gabelli Funds LLC

Gabelli Funds LLC decreased its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 22.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 58,200 shares of the insurance provider’s stock after selling 16,850 shares during the period. Gabelli Funds LLC’s holdings in The Hartford Insurance Group were worth $7,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in HIG. Y Intercept Hong Kong Ltd bought a new position in shares of The Hartford Insurance Group in the 1st quarter worth about $4,131,000. Abacus Wealth Partners LLC acquired a new position in shares of The Hartford Insurance Group in the 4th quarter valued at about $1,971,000. Goelzer Investment Management Inc. bought a new stake in shares of The Hartford Insurance Group during the 4th quarter valued at about $1,213,000. SEB Asset Management AB acquired a new stake in The Hartford Insurance Group during the first quarter worth about $69,310,000. Finally, Ameritas Advisory Services LLC raised its stake in The Hartford Insurance Group by 1,905.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 10,250 shares of the insurance provider’s stock worth $1,412,000 after acquiring an additional 9,739 shares during the period. 93.42% of the stock is currently owned by institutional investors.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the transaction, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 Down 0.3%

The Hartford Insurance Group stock opened at $140.06 on Tuesday. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $144.50. 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 firm has a market capitalization of $37.94 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 3.83 and a beta of 0.47. The firm has a 50-day moving average price of $133.90 and a two-hundred day moving average price of $135.52.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The business had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the firm posted $3.41 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 12.69 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s payout ratio is presently 15.51%.

Analyst Ratings Changes

HIG has been the topic of a number of recent research reports. UBS Group decreased their target price on 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. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods raised their price target on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Piper Sandler restated a “neutral” rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Finally, Bank of America upped their price objective on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, The Hartford Insurance Group has an average rating of “Hold” and a consensus target price of $149.00.

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.