Creative Planning Lowers Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Creative Planning cut its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 5.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 88,116 shares of the insurance provider’s stock after selling 5,480 shares during the period. Creative Planning’s holdings in The Hartford Insurance Group were worth $11,179,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, EVP Donald Christian Hunt sold 2,124 shares of the business’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 transaction of $284,339.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the sale, the executive vice president directly owned 18,400 shares of the company’s stock, valued at $2,252,344. This trade represents a 29.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on HIG shares. Citigroup started coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price target for the company. Wells Fargo & Company dropped their price objective on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Evercore ISI lifted their target price on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Wall Street Zen lowered The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, JPMorgan Chase & Co. raised their price objective on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock opened at $133.14 on Wednesday. The firm has a fifty day moving average of $129.54 and a 200-day moving average of $128.16. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $135.27. 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 firm has a market capitalization of $37.10 billion, a P/E ratio of 10.88, a PEG ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping 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 firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the prior year, the company earned $2.53 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. As a group, analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

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

About The Hartford Insurance Group

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.