Flputnam Investment Management Co. Trims Stock Position in The Hartford Insurance Group, Inc. $HIG

Flputnam Investment Management Co. reduced its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 13.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 35,101 shares of the insurance provider’s stock after selling 5,684 shares during the period. Flputnam Investment Management Co.’s holdings in The Hartford Insurance Group were worth $4,652,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of HIG. First Pacific Financial acquired a new position in The Hartford Insurance Group during the first quarter worth $26,000. MidFirst Bank acquired a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $26,000. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group in the third quarter valued at about $26,000. Navigoe LLC purchased a new stake in shares of The Hartford Insurance Group during the second quarter worth about $27,000. Finally, Phillip James Consulting Co. purchased a new stake in shares of The Hartford Insurance Group during the first quarter worth about $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HIG shares. Mizuho increased their target price on The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Royal Bank Of Canada boosted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. increased their price objective on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Cantor Fitzgerald raised their price objective on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Zacks Research raised shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Seven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $149.67.

The Hartford Insurance Group Stock Down 0.0%

HIG stock opened at $138.51 on Monday. The Hartford Insurance Group, Inc. has a one year low of $120.33 and a one year high of $146.07. The firm has a market cap of $37.52 billion, a PE ratio of 8.95, a PEG ratio of 3.40 and a beta of 0.46. The firm’s 50 day moving average price is $138.49 and its 200-day moving average price is $136.56. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The Hartford Insurance Group’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.41 earnings per share. On average, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

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

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.