Benson Investment Management Company Inc. Sells 2,363 Shares of The Hartford Insurance Group, Inc. $HIG

Benson Investment Management Company Inc. lessened its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 5.2% during the second quarter, Holdings Channel.com reports. The firm owned 43,101 shares of the insurance provider’s stock after selling 2,363 shares during the period. The Hartford Insurance Group accounts for about 2.1% of Benson Investment Management Company Inc.’s portfolio, making the stock its 20th biggest position. Benson Investment Management Company Inc.’s holdings in The Hartford Insurance Group were worth $5,468,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HIG. Park Square Financial Group LLC lifted its stake in shares of The Hartford Insurance Group by 146.2% in the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock valued at $32,000 after buying an additional 155 shares in the last quarter. Center for Financial Planning Inc. bought a new position in shares of The Hartford Insurance Group during the first quarter valued at about $33,000. Meeder Asset Management Inc. lifted its position in shares of The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 161 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of The Hartford Insurance Group during the first quarter valued at about $37,000. Finally, Signature Resources Capital Management LLC bought a new position in shares of The Hartford Insurance Group during the second quarter valued at about $38,000. 93.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of The Hartford Insurance Group from $139.00 to $147.00 and gave the company an “overweight” rating in a research report on Wednesday. Cantor Fitzgerald initiated 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 on the stock. JPMorgan Chase & Co. raised their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a research report on Thursday. Piper Sandler raised their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Wolfe Research initiated coverage on shares of The Hartford Insurance Group in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $140.07.

The Hartford Insurance Group Price Performance

HIG opened at $128.89 on Friday. The firm has a 50-day moving average price of $131.46 and a 200-day moving average price of $126.32. The company has a market capitalization of $36.24 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.26 and a beta of 0.69. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17. 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 (NYSE:HIG) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating the consensus estimate of $2.83 by $0.58. The company had revenue of $6.99 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.50 earnings per share. Equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $2.08 annualized dividend and a yield of 1.6%. The Hartford Insurance Group’s payout ratio is presently 18.86%.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the sale, the chief financial officer owned 77,574 shares of the company’s stock, valued at approximately $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

The Hartford Insurance Group 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.