The Hartford Insurance Group, Inc. $HIG Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. cut its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 88,888 shares of the insurance provider’s stock after selling 3,875 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in The Hartford Insurance Group were worth $12,265,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPL Wealth Management LLC acquired a new position in shares of The Hartford Insurance Group during the third quarter worth about $26,000. Cornerstone Planning Group LLC lifted its stake in The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 184 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in The Hartford Insurance Group during the third quarter worth approximately $29,000. United Financial Planning Group LLC purchased a new stake in The Hartford Insurance Group during the third quarter worth approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its stake in The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 152 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Lori A. Rodden sold 40,693 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the transaction, the executive vice president owned 25,392 shares of the company’s stock, valued at $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HIG. Mizuho boosted their target price on The Hartford Insurance Group from $158.00 to $159.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Barclays decreased their target price on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Wells Fargo & Company boosted their target price on The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Bank of America boosted their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Finally, Citigroup boosted their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.31.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock opened at $136.61 on Thursday. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The business has a 50 day simple moving average of $135.68 and a 200-day simple moving average of $135.76. The stock has a market capitalization of $37.45 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 2.43 and a beta of 0.50.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The company had revenue of $14.45 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter last year, the company earned $2.20 EPS. The Hartford Insurance Group’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts predict that The Hartford Insurance Group, Inc. will post 13.14 earnings per share for the current year.

About The Hartford Insurance Group

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.