Private Trust Co. NA Sells 397 Shares of The Hartford Insurance Group, Inc. $HIG

Private Trust Co. NA reduced its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 36.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 686 shares of the insurance provider’s stock after selling 397 shares during the period. Private Trust Co. NA’s holdings in The Hartford Insurance Group were worth $87,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HIG. Park Square Financial Group LLC raised its position in shares of The Hartford Insurance Group by 146.2% during the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock valued at $32,000 after buying an additional 155 shares in the last quarter. Meeder Asset Management Inc. increased its stake in The Hartford Insurance Group by 123.8% in the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after buying an additional 161 shares during the period. Smallwood Wealth Investment Management LLC bought a new stake in shares of The Hartford Insurance Group during the first quarter valued at approximately $37,000. Signature Resources Capital Management LLC bought a new stake in The Hartford Insurance Group during the 2nd quarter valued at $38,000. Finally, Golden State Wealth Management LLC lifted its stake in The Hartford Insurance Group by 167.8% in the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 198 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore ISI boosted their price target on The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Barclays reduced 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. Piper Sandler raised their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Morgan Stanley lifted their price objective on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Finally, Cantor Fitzgerald assumed coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.07.

The Hartford Insurance Group Trading Down 0.1%

NYSE HIG opened at $124.98 on Thursday. The company has a fifty day simple moving average of $131.14 and a two-hundred day simple moving average of $126.55. The stock has a market cap of $35.14 billion, a P/E ratio of 11.33, a P/E/G ratio of 1.21 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.17. 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 (NYSE:HIG) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.02 billion. During the same quarter last year, the company posted $2.50 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group 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.