The Hartford Insurance Group, Inc. $HIG Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC reduced its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 78.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,940 shares of the insurance provider’s stock after selling 55,196 shares during the period. Magnetar Financial LLC’s holdings in The Hartford Insurance Group were worth $1,993,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HIG. Vanguard Group Inc. boosted its stake in shares of The Hartford Insurance Group by 0.4% in the second quarter. Vanguard Group Inc. now owns 37,160,644 shares of the insurance provider’s stock worth $4,714,571,000 after acquiring an additional 156,807 shares during the last quarter. Geode Capital Management LLC increased its position in shares of The Hartford Insurance Group by 0.8% during the second quarter. Geode Capital Management LLC now owns 7,467,018 shares of the insurance provider’s stock worth $943,448,000 after purchasing an additional 57,539 shares in the last quarter. Invesco Ltd. raised its stake in The Hartford Insurance Group by 2.9% in the 2nd quarter. Invesco Ltd. now owns 4,834,472 shares of the insurance provider’s stock valued at $613,349,000 after purchasing an additional 136,483 shares during the last quarter. Nordea Investment Management AB lifted its holdings in The Hartford Insurance Group by 5.3% in the 3rd quarter. Nordea Investment Management AB now owns 4,307,617 shares of the insurance provider’s stock valued at $570,328,000 after purchasing an additional 215,941 shares in the last quarter. Finally, Norges Bank purchased a new position in The Hartford Insurance Group in the 2nd quarter valued at $506,329,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Trading Down 0.4%

Shares of HIG stock opened at $134.46 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a twelve month low of $107.49 and a twelve month high of $144.50. The company’s 50-day moving average price is $137.08 and its 200-day moving average price is $133.87. The stock has a market cap of $37.09 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.31 and a beta of 0.60.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (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 firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same period last year, the business earned $2.94 earnings per share. The Hartford Insurance Group’s revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 17.99%.

Analysts Set New Price Targets

HIG has been the subject of a number of research reports. Citigroup upped their target price on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. raised their price target 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. Keefe, Bruyette & Woods boosted 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. Cantor Fitzgerald upped their price objective on shares of The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Finally, Wells Fargo & Company increased their price objective on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $148.13.

Insider Activity

In related news, CEO Christopher Swift sold 100,970 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total value of $14,214,556.60. Following the transaction, the chief executive officer directly owned 194,817 shares in the company, valued at approximately $27,426,337.26. This represents a 34.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer owned 77,574 shares of the company’s stock, valued at $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 384,621 shares of company stock valued at $53,010,925. 1.50% of the stock is currently owned by company insiders.

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.