The Hartford Insurance Group, Inc. $HIG Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 245,114 shares of the insurance provider’s stock after selling 25,826 shares during the quarter. Wedge Capital Management L L P NC owned 0.09% of The Hartford Insurance Group worth $33,777,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in shares of The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after buying an additional 184 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at $26,000. Princeton Global Asset Management LLC acquired a new position in The Hartford Insurance Group during the 3rd quarter worth about $27,000. United Financial Planning Group LLC purchased a new position in The Hartford Insurance Group during the 3rd quarter valued at about $29,000. Finally, Sunbelt Securities Inc. acquired a new position in The Hartford Insurance Group in the 3rd quarter valued at about $29,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on HIG. Mizuho initiated coverage on shares of The Hartford Insurance Group in a research note on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price target on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of The Hartford Insurance Group from $160.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Wells Fargo & Company upped their target price on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Citigroup increased 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. Finally, Morgan Stanley raised their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and an average target price of $148.13.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the sale, the executive vice president directly owned 25,392 shares in the company, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 384,621 shares of company stock valued at $53,010,925. Insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Price Performance

HIG stock opened at $132.29 on Friday. The business’s 50-day moving average is $136.90 and its two-hundred day moving average is $133.96. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $36.49 billion, a P/E ratio of 9.92, a P/E/G ratio of 1.31 and a beta of 0.60. The Hartford Insurance Group, Inc. has a 1 year low of $107.49 and a 1 year high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the previous year, the company posted $2.94 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts anticipate 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 company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, March 2nd. The Hartford Insurance Group’s payout ratio is 17.99%.

The Hartford Insurance Group Company 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.