Janney Montgomery Scott LLC Sells 4,589 Shares of The Hartford Insurance Group, Inc. $HIG

Janney Montgomery Scott LLC trimmed its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 145,456 shares of the insurance provider’s stock after selling 4,589 shares during the quarter. Janney Montgomery Scott LLC owned about 0.05% of The Hartford Insurance Group worth $19,670,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of HIG. JPL Wealth Management LLC bought a new position in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $26,000. Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group in the third quarter valued at approximately $29,000. United Financial Planning Group LLC acquired a new stake in The Hartford Insurance Group in the third quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC grew its holdings in The Hartford Insurance Group by 144.8% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 152 shares during the last quarter. Finally, Fideuram Asset Management Ireland dac acquired a new position in shares of The Hartford Insurance Group during the fourth quarter worth $36,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $132.47 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The company’s fifty day moving average price is $132.63 and its 200-day moving average price is $135.43. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50. The firm has a market capitalization of $36.31 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 2.45 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter last year, the business earned $2.20 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, equities research analysts predict that The Hartford Insurance Group, Inc. will post 12.9 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 16.87%.

Insider Activity at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HIG shares. Barclays decreased their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Wells Fargo & Company dropped their target price on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. UBS Group decreased their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Finally, Bank of America boosted their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.31.

The Hartford Insurance Group 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.