Royal Bank of Canada Reduces Position in The Hartford Insurance Group, Inc. $HIG

Royal Bank of Canada decreased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 19.0% during the 1st quarter, HoldingsChannel reports. The fund owned 1,091,107 shares of the insurance provider’s stock after selling 256,435 shares during the quarter. Royal Bank of Canada’s holdings in The Hartford Insurance Group were worth $147,551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new stake in The Hartford Insurance Group during the 1st quarter worth approximately $207,000. NewEdge Advisors LLC boosted its stake in shares of The Hartford Insurance Group by 1.6% during the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after buying an additional 886 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of The Hartford Insurance Group by 3.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock valued at $21,297,000 after buying an additional 6,285 shares during the last quarter. HUB Investment Partners LLC grew its position 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 in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position 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 in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock opened at $142.95 on Friday. The Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $146.07. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The stock has a market cap of $38.72 billion, a PE ratio of 9.24, a price-to-earnings-growth ratio of 3.95 and a beta of 0.47. The company’s 50-day moving average price is $134.40 and its two-hundred day moving average price is $135.67.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.16 by $0.26. The company had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.41 EPS. As a group, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 12.77 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 15.51%.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction that occurred 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 approximately $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 SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HIG shares. Weiss Ratings cut shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Mizuho raised their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Zacks Research cut The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Monday. Cantor Fitzgerald lifted their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Hold” and an average price target of $149.06.

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.