Clear Harbor Asset Management LLC Sells 5,753 Shares of The Hartford Insurance Group, Inc. $HIG

Clear Harbor Asset Management LLC decreased its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 6.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 86,513 shares of the insurance provider’s stock after selling 5,753 shares during the quarter. The Hartford Insurance Group comprises 0.8% of Clear Harbor Asset Management LLC’s holdings, making the stock its 27th largest position. Clear Harbor Asset Management LLC’s holdings in The Hartford Insurance Group were worth $11,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its position in The Hartford Insurance Group by 286,241.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after buying an additional 73,835,976 shares during the last quarter. State Street Corp lifted its position in The Hartford Insurance Group by 0.4% in the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock valued at $2,146,749,000 after purchasing an additional 55,983 shares during the last quarter. Geode Capital Management LLC lifted its position in The Hartford Insurance Group by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock valued at $1,091,440,000 after purchasing an additional 34,274 shares during the last quarter. Invesco Ltd. lifted its position in The Hartford Insurance Group by 10.3% in the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock valued at $711,141,000 after purchasing an additional 496,821 shares during the last quarter. Finally, Norges Bank bought a new stake in The Hartford Insurance Group in the fourth quarter valued at approximately $611,724,000. Institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 40,693 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was 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 of the company’s stock, valued at $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction 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 sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on HIG shares. UBS Group lowered their price objective on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Wells Fargo & Company boosted their price objective on The Hartford Insurance Group from $156.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a research report on Monday, March 30th. Finally, Citigroup boosted their price objective on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.31.

The Hartford Insurance Group Price Performance

HIG opened at $127.29 on Monday. The stock has a market capitalization of $34.89 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 2.28 and a beta of 0.47. The stock’s 50 day moving average price is $135.47 and its 200-day moving average price is $136.04. The Hartford Insurance Group, Inc. has a 52-week low of $119.61 and a 52-week high of $144.50. 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 issued 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 firm had revenue of $7.23 billion during 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 Hartford Insurance Group’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.20 earnings per share. On average, equities research analysts predict that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio is presently 16.87%.

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.