First Financial Bank Trust Division Trims Position in The Hartford Insurance Group, Inc. $HIG

First Financial Bank Trust Division lowered its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,397 shares of the insurance provider’s stock after selling 4,171 shares during the quarter. The Hartford Insurance Group comprises about 0.9% of First Financial Bank Trust Division’s holdings, making the stock its 29th biggest holding. First Financial Bank Trust Division’s holdings in The Hartford Insurance Group were worth $10,057,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HIG. Vanguard Group Inc. boosted its holdings in The Hartford Insurance Group by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 37,160,644 shares of the insurance provider’s stock valued at $4,714,571,000 after purchasing an additional 156,807 shares during the last quarter. Geode Capital Management LLC raised its position in shares of The Hartford Insurance Group by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 7,467,018 shares of the insurance provider’s stock valued at $943,448,000 after buying an additional 57,539 shares during the period. Invesco Ltd. raised its position in shares of The Hartford Insurance Group by 2.9% during the 2nd quarter. Invesco Ltd. now owns 4,834,472 shares of the insurance provider’s stock valued at $613,349,000 after buying an additional 136,483 shares during the period. Norges Bank acquired a new position in The Hartford Insurance Group in the second quarter valued at approximately $506,329,000. Finally, Northern Trust Corp grew its position in The Hartford Insurance Group by 11.3% in the first quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider’s stock worth $487,077,000 after acquiring an additional 398,950 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Price Performance

HIG opened at $135.31 on Monday. The stock’s 50-day moving average price is $130.33 and its 200 day moving average price is $128.84. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $138.64. The firm has a market cap of $37.70 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.26 and a beta of 0.63. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.53 earnings per share. As a group, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be given a dividend of $0.60 per share. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

Insider Activity

In other news, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the sale, the executive vice president directly owned 18,400 shares in the company, valued at approximately $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on HIG. Wall Street Zen cut The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. UBS Group increased their price target on The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Morgan Stanley raised their price objective on The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. Keefe, Bruyette & Woods boosted their price objective on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Finally, Evercore ISI increased their target price on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company’s 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 $143.50.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.