Bahl & Gaynor Inc. Has $305.72 Million Stake in The Hartford Insurance Group, Inc. $HIG

Bahl & Gaynor Inc. reduced its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,291,946 shares of the insurance provider’s stock after selling 44,378 shares during the period. The Hartford Insurance Group comprises approximately 1.5% of Bahl & Gaynor Inc.’s investment portfolio, making the stock its 18th largest position. Bahl & Gaynor Inc. owned 0.82% of The Hartford Insurance Group worth $305,723,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HIG. William Blair Investment Management LLC bought a new position in The Hartford Insurance Group in the 3rd quarter valued at approximately $207,000. Aprio Wealth Management LLC increased its holdings in shares of The Hartford Insurance Group by 8.2% during the third quarter. Aprio Wealth Management LLC now owns 2,089 shares of the insurance provider’s stock worth $279,000 after buying an additional 158 shares in the last quarter. Aviso Financial Inc. increased its holdings in shares of The Hartford Insurance Group by 6.1% during the third quarter. Aviso Financial Inc. now owns 23,725 shares of the insurance provider’s stock worth $3,165,000 after buying an additional 1,359 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of The Hartford Insurance Group by 2.6% in the 3rd quarter. American Century Companies Inc. now owns 981,132 shares of the insurance provider’s stock valued at $130,873,000 after acquiring an additional 25,232 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at $3,145,000. 93.42% of the stock is owned by institutional investors.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, CEO Christopher Swift sold 100,970 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the transaction, the chief executive officer directly owned 194,817 shares in the company, valued at approximately $27,426,337.26. This represents a 34.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lori A. Rodden sold 5,681 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $141.83, for a total transaction of $805,736.23. Following the sale, the executive vice president directly owned 18,400 shares of the company’s stock, valued at approximately $2,609,672. This trade represents a 23.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 343,928 shares of company stock worth $47,393,256 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Stock Down 0.3%

The Hartford Insurance Group stock opened at $140.69 on Monday. The firm has a market cap of $38.81 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 1.37 and a beta of 0.60. 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 debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a 50 day moving average price of $137.11 and a two-hundred day moving average price of $133.47.

The Hartford Insurance Group (NYSE:HIG) last posted 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 Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the prior year, the company posted $2.94 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, March 2nd. The Hartford Insurance Group’s payout ratio is currently 17.99%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HIG. JPMorgan Chase & Co. upped their target price on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods upped their price objective on The Hartford Insurance Group from $160.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Wells Fargo & Company raised their price objective on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Roth Mkm boosted their target price on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Finally, 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 target for the company. 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $148.13.

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.