Arrowstreet Capital Limited Partnership Sells 296,462 Shares of The Hartford Insurance Group, Inc. $HIG

Arrowstreet Capital Limited Partnership reduced its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 21.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,084,243 shares of the insurance provider’s stock after selling 296,462 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.39% of The Hartford Insurance Group worth $137,558,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Private Wealth Management Group LLC grew its holdings in The Hartford Insurance Group by 151.1% during the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after buying an additional 133 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its holdings in The Hartford Insurance Group by 72.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 99 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of The Hartford Insurance Group in the 2nd quarter worth $35,000. Signature Resources Capital Management LLC purchased a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $38,000. Finally, Addison Advisors LLC lifted its position in shares of The Hartford Insurance Group by 129.3% during the second quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $135.10 on Wednesday. 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 stock has a fifty day simple moving average of $130.47 and a two-hundred day simple moving average of $128.73. The Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $138.64. The firm has a market cap of $37.65 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.19 and a beta of 0.63.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the firm earned $2.53 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be paid a $0.60 dividend. The ex-dividend date 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 dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is 19.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada began coverage on shares of The Hartford Insurance Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price objective for the company. Keefe, Bruyette & Woods upped their target price on The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Wolfe Research initiated coverage on The Hartford Insurance Group in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. UBS Group lifted their price target on The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $143.29.

Insider Activity at The Hartford Insurance Group

In other news, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the sale, the executive vice president owned 18,400 shares in the company, valued at approximately $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.50% of the company’s stock.

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.