Financial Advisors Network Inc. Decreases Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Financial Advisors Network Inc. decreased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 9.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,514 shares of the insurance provider’s stock after selling 276 shares during the period. Financial Advisors Network Inc.’s holdings in The Hartford Insurance Group were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of HIG. NorthRock Partners LLC raised its position in shares of The Hartford Insurance Group by 2.6% in the 1st 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. Wayfinding Financial LLC increased its stake in The Hartford Insurance Group by 3.0% during the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider’s stock valued at $355,000 after purchasing an additional 84 shares in the last quarter. Wealthspire Advisors LLC raised its holdings 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 buying an additional 88 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of The Hartford Insurance Group by 1.7% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 5,580 shares of the insurance provider’s stock worth $690,000 after buying an additional 95 shares during the period. Finally, HighPoint Advisor Group LLC lifted its stake in shares of The Hartford Insurance Group by 4.1% during the first quarter. HighPoint Advisor Group LLC now owns 2,447 shares of the insurance provider’s stock worth $299,000 after buying an additional 96 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the company’s stock in a transaction on 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 represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $129.86 on Tuesday. The firm has a market cap of $36.51 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $132.09. The business’s fifty day simple moving average is $125.00 and its 200-day simple moving average is $122.00.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.58. The company had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The Hartford Insurance Group’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.50 earnings per share. Equities analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group’s dividend payout ratio (DPR) is 18.86%.

Analyst Ratings Changes

Several research firms have weighed in on HIG. Morgan Stanley boosted their price target on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. UBS Group upped their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, August 4th. Cantor Fitzgerald assumed coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price target for the company. Barclays decreased their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $137.64.

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.