Aberdeen Group plc Trims Holdings in The Hartford Insurance Group, Inc. $HIG

Aberdeen Group plc reduced its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 275,199 shares of the insurance provider’s stock after selling 7,766 shares during the quarter. Aberdeen Group plc owned 0.10% of The Hartford Insurance Group worth $36,395,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Cornerstone Planning Group LLC lifted its stake in The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 184 shares in the last quarter. Princeton Global Asset Management LLC acquired a new stake in shares of The Hartford Insurance Group in the third quarter valued at $27,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of The Hartford Insurance Group by 72.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after buying an additional 99 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at $35,000. Finally, Addison Advisors LLC lifted its stake in The Hartford Insurance Group by 129.3% during the 2nd quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on HIG. Cantor Fitzgerald lifted their target price on The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Evercore lifted their price objective on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a report on Wednesday, January 7th. Mizuho initiated coverage on shares of The Hartford Insurance Group in a research note on Tuesday, December 16th. They set an “outperform” rating and a $160.00 target price on the stock. Keefe, Bruyette & Woods increased their target price on shares of The Hartford Insurance Group from $160.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Finally, Argus boosted their price target on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Two investment 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 stock. According to data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $148.13.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Swift sold 201,938 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $136.41, for a total value of $27,546,362.58. Following the completion of the sale, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at $26,574,986.97. The trade was a 50.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 343,928 shares of company stock worth $47,393,256 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $141.18 on Tuesday. The firm has a market capitalization of $39.34 billion, a P/E ratio of 10.58, a P/E/G ratio of 1.09 and a beta of 0.61. 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 firm’s 50 day moving average is $136.16 and its two-hundred day moving average is $132.61.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.84. The business had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.94 EPS. Research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

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.