Prudential PLC Sells 9,158 Shares of The Hartford Insurance Group, Inc. $HIG

Prudential PLC lessened its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 137,622 shares of the insurance provider’s stock after selling 9,158 shares during the quarter. Prudential PLC’s holdings in The Hartford Insurance Group were worth $18,964,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HIG. Ashton Thomas Private Wealth LLC bought a new stake in shares of The Hartford Insurance Group during the first quarter worth $207,000. NewEdge Advisors LLC grew its stake in shares of The Hartford Insurance Group by 1.6% during the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock worth $7,122,000 after buying an additional 886 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of The Hartford Insurance Group by 3.9% during the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock worth $21,297,000 after buying an additional 6,285 shares during the last quarter. HUB Investment Partners LLC grew its stake in shares of The Hartford Insurance Group by 9.8% during the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock worth $878,000 after buying an additional 619 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of The Hartford Insurance Group by 25.5% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock worth $24,488,000 after buying an additional 39,220 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

HIG has been the topic of a number of research reports. Weiss Ratings cut shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Cantor Fitzgerald decreased their target price on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Bank of America boosted their target price on shares of 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. UBS Group cut their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Finally, Wells Fargo & Company lifted their price target on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.88.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $127.44 on Friday. The firm has a market cap of $34.94 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 2.26 and a beta of 0.47. The firm’s fifty day moving average is $134.93 and its 200-day moving average is $135.87. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The business had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The Hartford Insurance Group’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 EPS. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 13.17 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be issued a $0.60 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.9%. The Hartford Insurance Group’s payout ratio is presently 16.87%.

Insider Buying and Selling at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president owned 38,208 shares in the company, valued at $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lori A. Rodden sold 40,693 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the transaction, the executive vice president owned 25,392 shares in the company, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.30% of the stock is owned by insiders.

The Hartford Insurance Group Profile

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.