Ameriprise Financial Inc. Has $259.35 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

Ameriprise Financial Inc. lowered its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 5.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,944,039 shares of the insurance provider’s stock after selling 106,639 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.70% of The Hartford Insurance Group worth $259,352,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its holdings in The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after buying an additional 184 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in The Hartford Insurance Group in the third quarter valued at approximately $27,000. United Financial Planning Group LLC bought a new stake in The Hartford Insurance Group in the third quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC grew its position in The Hartford Insurance Group by 72.8% in the second 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 in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of The Hartford Insurance Group during the 2nd quarter worth $35,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity 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 that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the sale, the chief financial officer owned 77,574 shares of the company’s stock, valued at $10,595,056.92. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the sale, the executive vice president directly owned 25,392 shares of the company’s stock, valued at $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 384,621 shares of company stock worth $53,010,925 in the last 90 days. 1.60% of the stock is owned by company insiders.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $134.83 on Tuesday. The company has a market capitalization of $37.19 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 1.29 and a beta of 0.60. The Hartford Insurance Group, Inc. has a one year low of $107.49 and a one year high of $144.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The company’s fifty day moving average price is $136.93 and its 200 day moving average price is $133.90.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.94 earnings per share. As a group, analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HIG shares. Argus raised their price target on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Mizuho assumed coverage on shares of The Hartford Insurance Group in a report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price objective for the company. 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 research report on Thursday, February 5th. Evercore raised their target price on 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. Finally, Citigroup boosted their price target on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $148.13.

The Hartford Insurance Group Company Profile

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.