Howard Capital Management Inc. Sells 200 Shares of The Hartford Insurance Group, Inc. $HIG

Howard Capital Management Inc. cut its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 10.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,768 shares of the insurance provider’s stock after selling 200 shares during the quarter. Howard Capital Management Inc.’s holdings in The Hartford Insurance Group were worth $225,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HIG. Private Wealth Management Group LLC grew its holdings in shares of The Hartford Insurance Group by 151.1% in the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after buying an additional 133 shares during the period. Park Square Financial Group LLC increased its holdings 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 worth $32,000 after acquiring an additional 155 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of The Hartford Insurance Group by 123.8% in the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 161 shares in the last quarter. Signature Resources Capital Management LLC bought a new stake in shares of The Hartford Insurance Group in the second quarter worth about $38,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of The Hartford Insurance Group in the first quarter worth about $43,000. 93.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HIG shares. Evercore ISI increased their price target on The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Wall Street Zen upgraded The Hartford Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Raymond James Financial restated an “outperform” rating and issued a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Wolfe Research started coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company lowered their price target on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.57.

The Hartford Insurance Group Stock Up 0.8%

The Hartford Insurance Group stock opened at $123.36 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.31. The company’s 50-day moving average is $130.20 and its 200-day moving average is $127.08. The firm has a market capitalization of $34.37 billion, a PE ratio of 10.08, 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 Hartford Insurance Group (NYSE:HIG) last issued its earnings results 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 company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the company posted $2.53 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts anticipate 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 issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s payout ratio is currently 16.99%.

Insiders Place Their Bets

In related news, CFO Beth Ann Costello sold 35,340 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares of the company’s stock, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The SEC filing for this sale provides additional information. Corporate insiders own 1.50% of the company’s stock.

About The Hartford Insurance Group

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.