Atlantic Union Bankshares Corp Sells 750 Shares of The Hartford Insurance Group, Inc. $HIG

Atlantic Union Bankshares Corp lowered its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,675 shares of the insurance provider’s stock after selling 750 shares during the period. Atlantic Union Bankshares Corp’s holdings in The Hartford Insurance Group were worth $2,369,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HIG. NorthRock Partners LLC boosted its holdings in shares of The Hartford Insurance Group by 2.6% in the first quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider’s stock worth $395,000 after acquiring an additional 80 shares during the period. Chicago Partners Investment Group LLC increased its position in shares of The Hartford Insurance Group by 3.6% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock valued at $303,000 after purchasing an additional 85 shares during the last quarter. Wealthspire Advisors LLC raised its stake in shares of The Hartford Insurance Group by 3.2% during the first quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider’s stock worth $356,000 after acquiring an additional 88 shares in the last quarter. BayBridge Capital Group LLC lifted its stake in The Hartford Insurance Group by 2.4% in the second quarter. BayBridge Capital Group LLC now owns 3,776 shares of the insurance provider’s stock worth $479,000 after purchasing an additional 89 shares during the last quarter. Finally, GSB Wealth Management LLC lifted its stake in shares of The Hartford Insurance Group by 2.4% in the 2nd quarter. GSB Wealth Management LLC now owns 3,849 shares of the insurance provider’s stock valued at $488,000 after acquiring an additional 90 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HIG shares. Raymond James Financial reissued an “outperform” rating and set a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Cantor Fitzgerald started coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Morgan Stanley lifted their target price on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Finally, Wolfe Research started coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $140.14.

The Hartford Insurance Group Price Performance

NYSE HIG opened at $129.29 on Friday. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.17. The company’s 50 day moving average is $129.49 and its two-hundred day moving average is $127.50. The stock has a market cap of $36.03 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.19 and a beta of 0.70.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the prior year, the firm posted $2.53 EPS. The Hartford Insurance Group’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio is 19.61%.

Insider Activity

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the transaction, the executive vice president directly owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. The trade was a 29.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.60% of the company’s stock.

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.