ProShare Advisors LLC Decreases Stock Holdings in The Hartford Insurance Group, Inc. $HIG

ProShare Advisors LLC trimmed its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 8.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 67,272 shares of the insurance provider’s stock after selling 6,561 shares during the quarter. ProShare Advisors LLC’s holdings in The Hartford Insurance Group were worth $8,973,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of HIG. Vanguard Group Inc. increased its holdings in The Hartford Insurance Group by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 37,160,644 shares of the insurance provider’s stock valued at $4,714,571,000 after purchasing an additional 156,807 shares during the period. Geode Capital Management LLC grew its position in shares of The Hartford Insurance Group by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 7,467,018 shares of the insurance provider’s stock worth $943,448,000 after buying an additional 57,539 shares during the last quarter. Invesco Ltd. increased its stake in shares of The Hartford Insurance Group by 2.9% during the second quarter. Invesco Ltd. now owns 4,834,472 shares of the insurance provider’s stock valued at $613,349,000 after buying an additional 136,483 shares during the period. Nordea Investment Management AB raised its holdings in shares of The Hartford Insurance Group by 5.3% during the third quarter. Nordea Investment Management AB now owns 4,307,617 shares of the insurance provider’s stock valued at $570,328,000 after acquiring an additional 215,941 shares in the last quarter. Finally, Norges Bank purchased a new stake in The Hartford Insurance Group in the second quarter worth $506,329,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on HIG. UBS Group boosted their price objective 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. Evercore boosted their price target on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a research report on Wednesday, January 7th. Wall Street Zen downgraded shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Wells Fargo & Company lifted their price objective on The Hartford Insurance Group from $153.00 to $156.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Finally, Piper Sandler upped their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $148.13.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CEO Christopher Swift sold 100,970 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total value of $14,214,556.60. Following the completion of the transaction, the chief executive officer owned 194,817 shares of the company’s stock, valued at $27,426,337.26. The trade was a 34.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 338,247 shares of company stock worth $46,587,520 over the last three months. Corporate insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $141.92 on Thursday. The Hartford Insurance Group, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $144.50. The firm’s 50-day simple moving average is $135.49 and its two-hundred day simple moving average is $132.18. The stock has a market cap of $39.54 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 1.09 and a beta of 0.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.84. The firm had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $2.94 earnings per share. Analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

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.