Mutual of America Capital Management LLC Decreases Stock Holdings in The Hartford Insurance Group, Inc. (NYSE:HIG)

Mutual of America Capital Management LLC reduced its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,567 shares of the insurance provider’s stock after selling 5,799 shares during the period. Mutual of America Capital Management LLC’s holdings in The Hartford Insurance Group were worth $8,979,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in The Hartford Insurance Group by 6.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider’s stock valued at $419,053,000 after acquiring an additional 234,320 shares during the last quarter. Northern Trust Corp lifted its position in The Hartford Insurance Group by 17.2% in the fourth quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider’s stock valued at $387,021,000 after acquiring an additional 519,717 shares during the last quarter. First Trust Advisors LP lifted its position in The Hartford Insurance Group by 15.1% in the fourth quarter. First Trust Advisors LP now owns 2,683,531 shares of the insurance provider’s stock valued at $293,578,000 after acquiring an additional 352,282 shares during the last quarter. Ameriprise Financial Inc. lifted its position in The Hartford Insurance Group by 48.1% in the fourth quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider’s stock valued at $247,761,000 after acquiring an additional 735,170 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in The Hartford Insurance Group by 7.5% in the fourth quarter. AQR Capital Management LLC now owns 1,843,118 shares of the insurance provider’s stock valued at $201,637,000 after acquiring an additional 128,258 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction dated Monday, August 4th. The shares were 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 of the company’s stock, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Trading Up 1.0%

NYSE HIG opened at $128.87 on Thursday. The stock has a market capitalization of $36.24 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.25 and a beta of 0.67. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $132.09. The firm has a 50-day moving average price of $124.93 and a 200 day moving average price of $120.93. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25.

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

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 18.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group reduced their price target on shares of The Hartford Insurance Group from $118.00 to $117.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Barclays reduced their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, July 7th. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the company an “outperform” rating in a report on Monday. Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Finally, Wall Street Zen raised shares of The Hartford Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.42.

The Hartford Insurance Group Company 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.