Bank of New York Mellon Corp Trims Position in The Hartford Insurance Group, Inc. $HIG

Bank of New York Mellon Corp lowered its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,088,271 shares of the insurance provider’s stock after selling 32,856 shares during the period. Bank of New York Mellon Corp’s holdings in The Hartford Insurance Group were worth $278,554,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Princeton Global Asset Management LLC purchased a new stake in The Hartford Insurance Group in the 3rd quarter valued at about $27,000. Private Wealth Management Group LLC lifted its holdings in shares of The Hartford Insurance Group by 151.1% during the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 133 shares during the period. Vermillion & White Wealth Management Group LLC boosted its position in shares of The Hartford Insurance Group by 72.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 99 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in The Hartford Insurance Group in the second quarter valued at approximately $35,000. Finally, Addison Advisors LLC increased its position in The Hartford Insurance Group by 129.3% during the second quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 181 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group 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 sale, the chief financial officer owned 77,574 shares in the company, valued at $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.

The Hartford Insurance Group Trading Up 1.3%

Shares of HIG opened at $132.35 on Friday. The Hartford Insurance Group, Inc. has a 12 month low of $105.98 and a 12 month high of $140.50. The stock’s 50-day moving average is $134.83 and its two-hundred day moving average is $131.01. 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 stock has a market cap of $36.88 billion, a PE ratio of 10.81, a P/E/G ratio of 1.06 and a beta of 0.61.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating the consensus estimate of $3.08 by $0.98. The business had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%. Equities analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Mizuho started coverage on shares of The Hartford Insurance Group in a report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price target on the stock. 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. Cantor Fitzgerald boosted their price target on The Hartford Insurance Group from $152.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. 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 report on Monday, November 17th. Finally, Wall Street Zen lowered The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $148.47.

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.