The Hartford Insurance Group, Inc. (NYSE:HIG) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC cut its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 6.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,754 shares of the insurance provider’s stock after selling 182 shares during the period. Frank Rimerman Advisors LLC’s holdings in The Hartford Insurance Group were worth $341,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in HIG. GAMMA Investing LLC raised its position in The Hartford Insurance Group by 14,049.5% during the first quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider’s stock worth $1,761,930,000 after acquiring an additional 1,413,945 shares during the period. Ameriprise Financial Inc. raised its position in The Hartford Insurance Group by 48.1% during the fourth quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider’s stock worth $247,761,000 after acquiring an additional 735,170 shares during the period. Northern Trust Corp raised its position in The Hartford Insurance Group by 17.2% during the fourth quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider’s stock worth $387,021,000 after acquiring an additional 519,717 shares during the period. Freestone Grove Partners LP acquired a new position in The Hartford Insurance Group during the fourth quarter worth $46,271,000. Finally, AustralianSuper Pty Ltd grew its holdings in shares of The Hartford Insurance Group by 31.9% during the first quarter. AustralianSuper Pty Ltd now owns 1,600,215 shares of the insurance provider’s stock worth $197,995,000 after buying an additional 387,141 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the transaction, the chief financial officer owned 77,574 shares of the company’s stock, valued at $9,580,389. 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 link. 1.60% of the stock is owned by insiders.

The Hartford Insurance Group Trading Up 0.8%

Shares of HIG opened at $128.20 on Monday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $132.09. The firm has a 50-day moving average price of $124.83 and a 200 day moving average price of $121.29. The firm has a market capitalization of $36.04 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.26 and a beta of 0.67.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $7.02 billion. During the same quarter in the prior year, the company posted $2.50 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The Hartford Insurance Group’s dividend payout ratio is presently 18.86%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HIG. Morgan Stanley upped their target price on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Barclays dropped their target price on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a report on Monday, July 7th. Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Finally, Wall Street Zen raised shares of The Hartford Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.42.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.