Candriam S.C.A. Decreases Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Candriam S.C.A. lessened its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,127 shares of the insurance provider’s stock after selling 3,946 shares during the quarter. Candriam S.C.A.’s holdings in The Hartford Insurance Group were worth $5,967,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC raised its position in The Hartford Insurance Group by 1,411.1% during the first quarter. Cedar Mountain Advisors LLC now owns 272 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 254 shares in the last quarter. SkyOak Wealth LLC purchased a new position in The Hartford Insurance Group in the 1st quarter valued at about $239,000. Ibex Wealth Advisors acquired a new position in The Hartford Insurance Group in the 1st quarter valued at $723,000. Resona Asset Management Co. Ltd. lifted its stake in The Hartford Insurance Group by 0.4% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 89,250 shares of the insurance provider’s stock worth $12,056,000 after purchasing an additional 362 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in The Hartford Insurance Group by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 31,953 shares of the insurance provider’s stock worth $4,321,000 after buying an additional 100 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president owned 38,208 shares in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HIG shares. Mizuho raised their price target on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods raised their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Cantor Fitzgerald boosted their target price on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Wells Fargo & Company lifted their price target on shares of The Hartford Insurance Group from $154.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Piper Sandler decreased their price target on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a report on Thursday, June 11th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $148.50.

The Hartford Insurance Group Stock Up 1.4%

HIG opened at $140.72 on Tuesday. The company has a market cap of $38.57 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 3.18 and a beta of 0.47. The Hartford Insurance Group, Inc. has a one year low of $119.61 and a one year high of $144.50. The business’s fifty day moving average is $132.69 and its two-hundred day moving average is $135.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The company had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.20 EPS. Analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 1st were issued a dividend of $0.60 per share. The ex-dividend date was Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s payout ratio is presently 16.87%.

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.