Cidel Asset Management Inc. Has $267,000 Stock Position in The Hartford Insurance Group, Inc. $HIG

Cidel Asset Management Inc. reduced its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 10.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,101 shares of the insurance provider’s stock after selling 236 shares during the quarter. Cidel Asset Management Inc.’s holdings in The Hartford Insurance Group were worth $267,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC grew its holdings in shares of The Hartford Insurance Group by 167.8% during the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 198 shares in the last quarter. Sharp Financial Services LLC acquired a new stake in shares of The Hartford Insurance Group during the 1st quarter worth $260,000. Oppenheimer & Co. Inc. grew its holdings in shares of The Hartford Insurance Group by 86.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider’s stock worth $533,000 after purchasing an additional 2,000 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of The Hartford Insurance Group during the 1st quarter worth $233,000. Finally, Aurora Investment Counsel acquired a new stake in shares of The Hartford Insurance Group during the 1st quarter worth $2,434,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $123.84 on Tuesday. The business’s 50-day moving average price is $131.34 and its 200-day moving average price is $126.57. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.17. The firm has a market capitalization of $34.82 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.20 and a beta of 0.69. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.58. The firm had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $2.50 earnings per share. Equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. The Hartford Insurance Group’s payout ratio is currently 18.86%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HIG shares. Barclays reduced their price objective on The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, July 7th. Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 price objective (up from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. JPMorgan Chase & Co. raised their price objective on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Keefe, Bruyette & Woods raised their price objective on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. Finally, Wall Street Zen raised The Hartford Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight 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 $140.07.

The Hartford Insurance Group Profile

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.