Shell Asset Management Co. Cuts Stock Position in The Hartford Insurance Group, Inc. $HIG

Shell Asset Management Co. trimmed its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 67.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,212 shares of the insurance provider’s stock after selling 38,543 shares during the period. Shell Asset Management Co.’s holdings in The Hartford Insurance Group were worth $2,429,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HIG. Ashton Thomas Private Wealth LLC purchased a new stake in shares of The Hartford Insurance Group in the first quarter valued at about $207,000. Concurrent Investment Advisors LLC lifted its position in The Hartford Insurance Group by 41.7% in the second quarter. Concurrent Investment Advisors LLC now owns 2,673 shares of the insurance provider’s stock valued at $339,000 after purchasing an additional 787 shares during the period. CWM LLC boosted its holdings in The Hartford Insurance Group by 4.8% in the 2nd quarter. CWM LLC now owns 15,849 shares of the insurance provider’s stock valued at $2,011,000 after purchasing an additional 720 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in The Hartford Insurance Group during the 2nd quarter worth approximately $200,000. Finally, Sagespring Wealth Partners LLC raised its stake in shares of The Hartford Insurance Group by 28.5% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 3,238 shares of the insurance provider’s stock worth $411,000 after buying an additional 719 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 5,681 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $141.83, for a total value of $805,736.23. Following the completion of the transaction, the executive vice president directly owned 18,400 shares of the company’s stock, valued at $2,609,672. The trade was a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher Swift sold 100,970 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total value of $14,214,556.60. Following the sale, the chief executive officer directly owned 194,817 shares in the company, valued at approximately $27,426,337.26. The trade was a 34.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 343,928 shares of company stock valued at $47,393,256. 1.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Mizuho started coverage on The Hartford Insurance Group in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price target on the stock. Cantor Fitzgerald raised their target price on The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Morgan Stanley upped their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Royal Bank Of Canada assumed coverage on shares of The Hartford Insurance Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price target for the company. Finally, Argus boosted their price objective on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.13.

The Hartford Insurance Group Trading Down 0.5%

NYSE:HIG opened at $141.18 on Friday. The Hartford Insurance Group, Inc. has a 52-week low of $107.49 and a 52-week high of $144.50. The company has a quick ratio of 0.32, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $135.93 and a 200-day simple moving average of $132.44. The company has a market capitalization of $39.34 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 1.09 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the business posted $2.94 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

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.