Pitcairn Co. Trims Stock Position in The Hartford Insurance Group, Inc. $HIG

Pitcairn Co. trimmed its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 17.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,969 shares of the insurance provider’s stock after selling 4,325 shares during the period. Pitcairn Co.’s holdings in The Hartford Insurance Group were worth $2,660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its position in shares of The Hartford Insurance Group by 103.2% in the second quarter. Geneos Wealth Management Inc. now owns 12,197 shares of the insurance provider’s stock worth $1,547,000 after acquiring an additional 6,196 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in The Hartford Insurance Group during the second quarter worth approximately $99,000. Public Sector Pension Investment Board boosted its holdings in shares of The Hartford Insurance Group by 28.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 98,451 shares of the insurance provider’s stock valued at $12,490,000 after purchasing an additional 21,602 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of The Hartford Insurance Group by 154.7% during the 2nd quarter. Headlands Technologies LLC now owns 4,822 shares of the insurance provider’s stock valued at $612,000 after buying an additional 2,929 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of The Hartford Insurance Group by 29.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 21,611 shares of the insurance provider’s stock worth $2,742,000 after buying an additional 4,979 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Up 0.0%

NYSE HIG opened at $135.31 on Friday. The stock has a market cap of $37.70 billion, a PE ratio of 11.05, a P/E/G ratio of 1.26 and a beta of 0.63. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $138.64. The business has a 50 day moving average price of $130.33 and a two-hundred day moving average price of $128.84. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter last year, the firm posted $2.53 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

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

Insiders Place Their Bets

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the transaction, the executive vice president directly owned 18,400 shares of the company’s stock, valued at $2,252,344. This represents a 29.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HIG shares. Morgan Stanley lifted their target price on The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Keefe, Bruyette & Woods raised their price objective on The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Argus boosted their target price on The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Wells Fargo & Company cut their price target on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group has an average rating of “Moderate Buy” and an average target price of $143.50.

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.