iA Global Asset Management Inc. Reduces Holdings in The Hartford Insurance Group, Inc. $HIG

iA Global Asset Management Inc. decreased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 42.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,095 shares of the insurance provider’s stock after selling 9,581 shares during the quarter. iA Global Asset Management Inc.’s holdings in The Hartford Insurance Group were worth $1,661,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Concurrent Investment Advisors LLC purchased a new position in shares of The Hartford Insurance Group during the first quarter worth about $233,000. Aurora Investment Counsel acquired a new stake in The Hartford Insurance Group in the first quarter valued at about $2,434,000. Ballentine Partners LLC lifted its position in The Hartford Insurance Group by 12.2% in the first quarter. Ballentine Partners LLC now owns 28,906 shares of the insurance provider’s stock valued at $3,577,000 after purchasing an additional 3,134 shares during the period. Atlas Capital Advisors Inc. lifted its position in The Hartford Insurance Group by 95.1% in the first quarter. Atlas Capital Advisors Inc. now owns 6,443 shares of the insurance provider’s stock valued at $797,000 after purchasing an additional 3,140 shares during the period. Finally, Burns Matteson Capital Management LLC acquired a new stake in The Hartford Insurance Group in the first quarter valued at about $506,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

HIG stock opened at $124.31 on Tuesday. The firm has a 50 day moving average of $129.84 and a 200-day moving average of $127.32. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.17. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company has a market cap of $34.64 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the firm earned $2.53 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Citigroup assumed coverage on shares of 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. Barclays reduced their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, July 7th. Wall Street Zen downgraded shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday. Raymond James Financial restated an “outperform” rating and issued a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Finally, Wells Fargo & Company reduced their price objective on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $139.57.

Insider Activity at The Hartford Insurance Group

In related 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 transaction of $959,816.81. Following the completion of the transaction, the executive vice president directly owned 18,400 shares in the company, valued at $2,252,344. The trade was a 29.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale is available in the SEC filing. Insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Company 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.