Pinnacle Bancorp Inc. Has $61,000 Holdings in The Hartford Insurance Group, Inc. (NYSE:HIG)

Pinnacle Bancorp Inc. trimmed its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 16.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 492 shares of the insurance provider’s stock after selling 100 shares during the period. Pinnacle Bancorp Inc.’s holdings in The Hartford Insurance Group were worth $61,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HIG. Atria Wealth Solutions Inc. acquired a new position in shares of The Hartford Insurance Group during the 4th quarter worth about $393,000. Global Retirement Partners LLC grew its holdings in The Hartford Insurance Group by 10.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,788 shares of the insurance provider’s stock worth $196,000 after purchasing an additional 162 shares during the period. Private Advisor Group LLC increased its position in The Hartford Insurance Group by 10.7% during the fourth quarter. Private Advisor Group LLC now owns 20,729 shares of the insurance provider’s stock worth $2,268,000 after buying an additional 2,004 shares during the last quarter. Wealthspire Advisors LLC raised its stake in The Hartford Insurance Group by 20.8% in the fourth quarter. Wealthspire Advisors LLC now owns 2,789 shares of the insurance provider’s stock valued at $305,000 after buying an additional 481 shares during the period. Finally, Howard Capital Management Inc. lifted its position in shares of The Hartford Insurance Group by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 2,164 shares of the insurance provider’s stock valued at $237,000 after buying an additional 108 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HIG. Piper Sandler boosted their target price on The Hartford Insurance Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. JPMorgan Chase & Co. upped their price objective on shares of The Hartford Insurance Group from $125.00 to $129.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Barclays increased their price objective on shares of The Hartford Insurance Group from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. UBS Group lifted their target price on shares of The Hartford Insurance Group from $139.00 to $142.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of The Hartford Insurance Group from $140.00 to $133.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $131.15.

Insider Activity at The Hartford Insurance Group

In related news, SVP Allison G. Niderno sold 1,086 shares of the firm’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $119.42, for a total transaction of $129,690.12. Following the completion of the transaction, the senior vice president now directly owns 622 shares of the company’s stock, valued at $74,279.24. This trade represents a 63.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Swift sold 1,144 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total value of $143,000.00. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at approximately $26,385,250. The trade was a 0.54% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

The Hartford Insurance Group Price Performance

NYSE:HIG opened at $124.04 on Thursday. The Hartford Insurance Group, Inc. has a 52 week low of $98.16 and a 52 week high of $132.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.31 and a current ratio of 0.31. The firm’s 50-day simple moving average is $125.91 and its 200 day simple moving average is $118.13. The firm has a market cap of $35.24 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.23 and a beta of 0.71.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.05. The Hartford Insurance Group had a net margin of 11.10% and a return on equity of 18.73%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same quarter in the prior year, the business posted $2.34 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, June 2nd will be given a dividend of $0.52 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.08 annualized dividend and a yield of 1.68%. The Hartford Insurance Group’s dividend payout ratio is 20.74%.

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.