JPMorgan Chase & Co. Trims Stock Holdings in The Hartford Insurance Group, Inc. $HIG

JPMorgan Chase & Co. lowered its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 23.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,601,215 shares of the insurance provider’s stock after selling 817,482 shares during the quarter. JPMorgan Chase & Co.’s holdings in The Hartford Insurance Group were worth $346,983,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in HIG. Armstrong Advisory Group Inc. lifted its holdings in shares of The Hartford Insurance Group by 5.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock worth $195,000 after acquiring an additional 80 shares during the last quarter. Mather Group LLC. raised its position in The Hartford Insurance Group by 4.5% in the third quarter. Mather Group LLC. now owns 1,929 shares of the insurance provider’s stock valued at $257,000 after purchasing an additional 83 shares during the period. Chicago Partners Investment Group LLC raised its position in The Hartford Insurance Group by 3.6% in the second quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock valued at $303,000 after purchasing an additional 85 shares during the period. Monument Capital Management lifted its stake in The Hartford Insurance Group by 0.4% during the third quarter. Monument Capital Management now owns 24,314 shares of the insurance provider’s stock worth $3,243,000 after purchasing an additional 85 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its position in shares of The Hartford Insurance Group by 4.4% during the second quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider’s stock worth $262,000 after buying an additional 86 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HIG has been the topic of several research reports. Mizuho began coverage on The Hartford Insurance Group in a research note on Tuesday, December 16th. They set an “outperform” rating and a $160.00 target price on the stock. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Insurance Group from $160.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Roth Mkm lifted 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 report on Friday, January 30th. JPMorgan Chase & Co. upped their target price on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Finally, Argus raised their price target on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $148.13.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 5,681 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $141.83, for a total value of $805,736.23. Following the sale, the executive vice president directly owned 18,400 shares in the company, valued at $2,609,672. This trade represents a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 343,928 shares of company stock valued at $47,393,256 over the last quarter. 1.50% of the stock is owned by insiders.

The Hartford Insurance Group Stock Down 0.7%

Shares of NYSE:HIG opened at $140.31 on Friday. The firm’s 50 day moving average price is $136.75 and its 200 day moving average price is $132.87. The stock has a market cap of $39.10 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.48 and a beta of 0.61. The Hartford Insurance Group, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $144.50. The company has a quick ratio of 0.32, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the business posted $2.94 EPS. The firm’s revenue was up 6.7% on a year-over-year basis. As a group, equities research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio is 17.99%.

About The Hartford Insurance Group

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.