B. Riley Wealth Advisors Inc. Lowers Stock Position in The Hartford Insurance Group, Inc. $HIG

B. Riley Wealth Advisors Inc. cut its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 60.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,059 shares of the insurance provider’s stock after selling 7,652 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in The Hartford Insurance Group were worth $675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its stake in shares of The Hartford Insurance Group by 12.0% during the 2nd quarter. New York State Common Retirement Fund now owns 209,238 shares of the insurance provider’s stock valued at $26,546,000 after buying an additional 22,500 shares in the last quarter. Nordea Investment Management AB grew its stake 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 buying an additional 215,941 shares in the last quarter. Capital Fund Management S.A. raised its holdings in The Hartford Insurance Group by 94.9% during the 2nd quarter. Capital Fund Management S.A. now owns 140,342 shares of the insurance provider’s stock valued at $17,805,000 after acquiring an additional 68,351 shares during the period. Vest Financial LLC lifted its position in shares of The Hartford Insurance Group by 7.5% during the third quarter. Vest Financial LLC now owns 358,916 shares of the insurance provider’s stock worth $47,876,000 after acquiring an additional 25,041 shares in the last quarter. Finally, Ground Swell Capital LLC bought a new position in shares of The Hartford Insurance Group in the second quarter worth $324,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Evercore ISI lifted their target price on The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a report on Wednesday, January 7th. Wall Street Zen cut The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Royal Bank Of Canada began coverage on shares of The Hartford Insurance Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.47.

The Hartford Insurance Group Price Performance

HIG stock opened at $130.66 on Thursday. The firm has a 50 day simple moving average of $134.88 and a two-hundred day simple moving average of $131.00. The stock has a market cap of $36.41 billion, a PE ratio of 10.67, a P/E/G ratio of 1.05 and a beta of 0.61. The Hartford Insurance Group, Inc. has a one year low of $105.98 and a one year high of $140.50. 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 posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the firm posted $2.53 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other The Hartford Insurance Group news, 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 transaction of $4,826,600.62. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by insiders.

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.