Russell Investments Group Ltd. Trims Stake in The Hartford Insurance Group, Inc. $HIG

Russell Investments Group Ltd. trimmed its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 13.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 351,998 shares of the insurance provider’s stock after selling 52,612 shares during the quarter. Russell Investments Group Ltd. owned 0.13% of The Hartford Insurance Group worth $44,572,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. NorthRock Partners LLC lifted its stake in The Hartford Insurance Group by 2.6% in the first quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider’s stock worth $395,000 after acquiring an additional 80 shares during the period. Chicago Partners Investment Group LLC lifted its position in shares of The Hartford Insurance Group by 3.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock worth $303,000 after purchasing an additional 85 shares during the period. Fidelis Capital Partners LLC boosted its stake in shares of The Hartford Insurance Group by 4.4% during the second quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider’s stock valued at $262,000 after purchasing an additional 86 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in The Hartford Insurance Group by 3.2% during the first quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider’s stock valued at $356,000 after buying an additional 88 shares during the period. Finally, BayBridge Capital Group LLC increased its holdings in The Hartford Insurance Group by 2.4% during the second quarter. BayBridge Capital Group LLC now owns 3,776 shares of the insurance provider’s stock valued at $479,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

HIG has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Wolfe Research assumed coverage on shares of The Hartford Insurance Group in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Keefe, Bruyette & Woods raised their price target on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Finally, Piper Sandler lifted their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $143.29.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $137.03 on Friday. The company has a 50 day moving average price of $130.30 and a 200 day moving average price of $128.64. The firm has a market capitalization of $38.18 billion, a P/E ratio of 11.19, a PEG ratio of 1.19 and a beta of 0.69. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $138.64.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.76. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The Hartford Insurance Group’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.53 EPS. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be paid a $0.60 dividend. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 19.61%.

Insider Transactions at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the transaction, the executive vice president owned 18,400 shares in the company, valued at approximately $2,252,344. This trade represents a 29.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.60% of the company’s stock.

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.