First Horizon Advisors Inc. Sells 1,378 Shares of The Hartford Insurance Group, Inc. $HIG

First Horizon Advisors Inc. cut its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 51.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,290 shares of the insurance provider’s stock after selling 1,378 shares during the period. First Horizon Advisors Inc.’s holdings in The Hartford Insurance Group were worth $164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Private Wealth Management Group LLC raised its stake in The Hartford Insurance Group by 151.1% in the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after buying an additional 133 shares in the last quarter. Park Square Financial Group LLC raised its position in shares of The Hartford Insurance Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of The Hartford Insurance Group by 123.8% during the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 161 shares during the last quarter. Signature Resources Capital Management LLC bought a new stake in The Hartford Insurance Group during the second quarter valued at about $38,000. Finally, Larson Financial Group LLC grew its stake in The Hartford Insurance Group by 274.5% in the first quarter. Larson Financial Group LLC now owns 352 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 258 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

In other news, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the sale, the executive vice president directly owned 18,400 shares of the company’s stock, valued at $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The SEC filing for this sale provides additional information. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HIG shares. Keefe, Bruyette & Woods increased their target price on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Piper Sandler increased their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Citigroup started coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price objective for the company. UBS Group upped their target price on The Hartford Insurance Group from $150.00 to $152.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Evercore ISI increased their price target on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and a consensus target price of $140.14.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $129.29 on Friday. The business’s 50-day moving average is $129.49 and its two-hundred day moving average is $127.56. The company has a market capitalization of $36.03 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.17. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.32.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The business had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the prior year, the firm posted $2.53 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.60 per share. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 1st. This represents a $2.40 annualized dividend and a yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 19.61%.

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.