The Hartford Insurance Group, Inc. $HIG Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 144,136 shares of the insurance provider’s stock after selling 6,564 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in The Hartford Insurance Group were worth $19,226,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HIG. Vanguard Group Inc. raised its holdings in shares of The Hartford Insurance Group by 0.4% during the second quarter. Vanguard Group Inc. now owns 37,160,644 shares of the insurance provider’s stock valued at $4,714,571,000 after buying an additional 156,807 shares during the last quarter. Invesco Ltd. grew its holdings in The Hartford Insurance Group by 10.3% in the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after buying an additional 496,821 shares in the last quarter. Nordea Investment Management AB increased its position in The Hartford Insurance Group by 5.3% in the 3rd quarter. Nordea Investment Management AB now owns 4,307,617 shares of the insurance provider’s stock valued at $570,328,000 after acquiring an additional 215,941 shares during the period. Norges Bank acquired a new stake in The Hartford Insurance Group in the 2nd quarter valued at approximately $506,329,000. Finally, Franklin Resources Inc. raised its stake in The Hartford Insurance Group by 3.3% during the 3rd quarter. Franklin Resources Inc. now owns 3,376,931 shares of the insurance provider’s stock valued at $450,449,000 after acquiring an additional 108,765 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Performance

HIG opened at $134.83 on Tuesday. The firm has a market cap of $37.19 billion, a PE ratio of 10.11, a P/E/G ratio of 1.29 and a beta of 0.60. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $136.93 and a 200-day simple moving average of $133.90. The Hartford Insurance Group, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $144.50.

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 return on equity of 21.92% and a net margin of 13.52%.The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the firm earned $2.94 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, March 2nd. The Hartford Insurance Group’s payout ratio is presently 17.99%.

Insiders Place Their Bets

In other news, CEO Christopher Swift sold 100,970 shares of The Hartford Insurance Group stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at $27,426,337.26. This trade represents a 34.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Beth Ann Costello sold 35,339 shares of the business’s 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 represents a 31.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 384,621 shares of company stock worth $53,010,925. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Mizuho initiated coverage on The Hartford Insurance Group in a research report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price target for the company. Citigroup lifted their price objective on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Weiss Ratings raised shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, February 13th. Morgan Stanley upped their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of The Hartford Insurance Group from $160.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.13.

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.