Pitcairn Co. Sells 4,647 Shares of The Hartford Insurance Group, Inc. $HIG

Pitcairn Co. cut its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 22.2% in the third quarter, Holdings Channel.com reports. The firm owned 16,322 shares of the insurance provider’s stock after selling 4,647 shares during the quarter. Pitcairn Co.’s holdings in The Hartford Insurance Group were worth $2,177,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Armstrong Advisory Group Inc. lifted its holdings in shares of The Hartford Insurance Group by 5.8% in the third quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock valued at $195,000 after purchasing an additional 80 shares in the last quarter. Mather Group LLC. grew its holdings in shares of The Hartford Insurance Group by 4.5% during the third quarter. Mather Group LLC. now owns 1,929 shares of the insurance provider’s stock worth $257,000 after buying an additional 83 shares in the last quarter. Monument Capital Management raised its position in The Hartford Insurance Group by 0.4% in the 3rd quarter. Monument Capital Management now owns 24,314 shares of the insurance provider’s stock valued at $3,243,000 after buying an additional 85 shares during the last quarter. Fidelis Capital Partners LLC lifted its stake in The Hartford Insurance Group by 4.4% in the 2nd quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider’s stock valued at $262,000 after acquiring an additional 86 shares in the last quarter. Finally, REAP Financial Group LLC lifted its stake in The Hartford Insurance Group by 12.7% in the 3rd quarter. REAP Financial Group LLC now owns 790 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insiders Place Their Bets

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 5,681 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 18,400 shares in the company, valued at $2,609,672. This represents a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the completion of the sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 343,928 shares of company stock valued at $47,393,256 over the last 90 days. 1.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HIG. Keefe, Bruyette & Woods raised their price target on shares of The Hartford Insurance Group from $160.00 to $163.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Mizuho assumed coverage on shares of The Hartford Insurance Group in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price objective on the stock. UBS Group raised 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. Cantor Fitzgerald lifted their price target on shares of The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Finally, Royal Bank Of Canada initiated coverage on shares of The Hartford Insurance Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price target on the stock. Two investment 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 stock. Based on data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and a consensus price target of $148.13.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $139.66 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $137.24 and its 200 day simple moving average is $133.72. The Hartford Insurance Group, Inc. has a 1-year low of $107.49 and a 1-year high of $144.50. The company has a market cap of $38.53 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 1.38 and a beta of 0.60.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.94 EPS. On average, research analysts forecast 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 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.