GSA Capital Partners LLP Reduces Holdings in The Hartford Insurance Group, Inc. $HIG

GSA Capital Partners LLP lowered its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 77.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,004 shares of the insurance provider’s stock after selling 6,892 shares during the period. GSA Capital Partners LLP’s holdings in The Hartford Insurance Group were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC purchased a new stake in The Hartford Insurance Group in the third quarter valued at $27,000. Cornerstone Planning Group LLC increased its position in shares of The Hartford Insurance Group by 707.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 184 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its holdings in The Hartford Insurance Group by 72.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after buying an additional 99 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in The Hartford Insurance Group in the second quarter valued at about $35,000. Finally, Addison Advisors LLC boosted its stake in The Hartford Insurance Group by 129.3% during the second quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock worth $41,000 after buying an additional 181 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Trading Down 0.3%

HIG opened at $140.69 on Friday. The business has a fifty day moving average price of $137.11 and a 200 day moving average price of $133.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.32. The Hartford Insurance Group, Inc. has a 12 month low of $107.49 and a 12 month high of $144.50. The stock has a market capitalization of $38.81 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 1.37 and a beta of 0.61.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data 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 Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter last year, the business posted $2.94 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. 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 Announces Dividend

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

Insider Buying and Selling at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares of the company’s stock, valued at $10,595,056.92. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Lori A. Rodden sold 5,681 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $141.83, for a total value of $805,736.23. Following the completion of the sale, the executive vice president owned 18,400 shares in the company, valued at approximately $2,609,672. This represents a 23.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 343,928 shares of company stock valued at $47,393,256. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

HIG has been the topic of several recent analyst reports. Cantor Fitzgerald upped their price objective on shares of The Hartford Insurance Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Mizuho assumed coverage on The Hartford Insurance Group in a research note on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price target on the stock. Royal Bank Of Canada began coverage on The Hartford Insurance Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price objective for the company. Wall Street Zen lowered The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Piper Sandler raised their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.13.

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.