The Hartford Insurance Group, Inc. $HIG Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,163,783 shares of the insurance provider’s stock after selling 8,521 shares during the quarter. Hsbc Holdings PLC’s holdings in The Hartford Insurance Group were worth $160,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HIG. Northwestern Mutual Wealth Management Co. grew its position in The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after acquiring an additional 73,835,976 shares during the period. State Street Corp increased its stake in The Hartford Insurance Group by 0.4% during the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after acquiring an additional 55,983 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of The Hartford Insurance Group by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock worth $1,091,440,000 after purchasing an additional 34,274 shares during the period. Invesco Ltd. raised its holdings in shares of The Hartford Insurance Group by 10.3% in the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after purchasing an additional 496,821 shares during the period. Finally, Norges Bank acquired a new position in shares of The Hartford Insurance Group in the 4th quarter valued at about $611,724,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Transactions at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Piper Sandler decreased their price objective on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a research note on Thursday, June 11th. UBS Group cut their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Keefe, Bruyette & Woods reduced their target price on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a report on Thursday, June 4th. Finally, Wells Fargo & Company decreased their price target on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.31.

The Hartford Insurance Group Stock Up 0.0%

NYSE HIG opened at $128.26 on Friday. The stock has a market cap of $35.16 billion, a PE ratio of 9.01, a P/E/G ratio of 2.33 and a beta of 0.47. The Hartford Insurance Group, Inc. has a fifty-two week low of $119.61 and a fifty-two week high of $144.50. The business has a 50 day moving average price of $133.61 and a two-hundred day moving average price of $135.40. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $2.20 EPS. As a group, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 13.03 EPS 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, July 2nd. Investors of record on Monday, June 1st will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 16.87%.

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.