QRG Capital Management Inc. Has $8.19 Million Stock Holdings in The Hartford Insurance Group, Inc. $HIG

QRG Capital Management Inc. lessened its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 80.5% during the third quarter, Holdings Channel.com reports. The firm owned 61,411 shares of the insurance provider’s stock after selling 253,630 shares during the quarter. QRG Capital Management Inc.’s holdings in The Hartford Insurance Group were worth $8,192,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HIG. Princeton Global Asset Management LLC bought a new stake in The Hartford Insurance Group in the third quarter valued at approximately $27,000. Private Wealth Management Group LLC boosted its stake 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 purchasing an additional 133 shares during the last quarter. Vermillion & White Wealth Management Group LLC boosted its stake in shares of The Hartford Insurance Group by 72.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 99 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of The Hartford Insurance Group during the second quarter worth $35,000. Finally, Signature Resources Capital Management LLC bought a new position in The Hartford Insurance Group during the second quarter worth $38,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Down 1.0%

HIG opened at $129.49 on Friday. The Hartford Insurance Group, Inc. has a fifty-two week low of $105.98 and a fifty-two week high of $140.50. The firm has a market capitalization of $36.08 billion, a P/E ratio of 10.58, a PEG ratio of 1.17 and a beta of 0.61. The company’s 50-day moving average is $135.31 and its 200 day moving average is $130.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.53 EPS. Research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 1st were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s payout ratio is 19.61%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of The Hartford Insurance Group from $140.00 to $153.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. UBS Group boosted their target price on The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Wall Street Zen cut The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Piper Sandler boosted their price objective on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Finally, Keefe, Bruyette & Woods increased their target price on The Hartford Insurance Group from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and an average price target of $148.47.

Insider Transactions at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $10,595,056.92. This represents a 31.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of the firm’s 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 sale, the executive vice president owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. The trade was a 29.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.50% of the company’s stock.

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.