United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lessened its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 25.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,300 shares of the insurance provider’s stock after selling 4,900 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in The Hartford Insurance Group were worth $1,971,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in HIG. Cornerstone Planning Group LLC lifted its holdings in shares of The Hartford Insurance Group by 707.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 184 shares during the period. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $26,000. United Financial Planning Group LLC bought a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. Sunbelt Securities Inc. bought a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its holdings in shares of The Hartford Insurance Group by 144.8% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 152 shares during the period. Institutional investors own 93.42% of the company’s stock.
Insider Activity at The Hartford Insurance Group
In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the transaction, the executive vice president directly owned 25,392 shares in the company, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the transaction, the president owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.
The Hartford Insurance Group Trading Down 1.3%
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the company posted $2.20 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts forecast that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current year.
The Hartford Insurance Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio is 16.87%.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. Barclays dropped their price objective on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Citigroup increased their price objective on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Roth Mkm increased their price objective on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday, March 30th. Finally, Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.31.
Check Out Our Latest Report on The Hartford Insurance Group
The Hartford Insurance Group Company 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.
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