Diamond Hill Capital Management Inc. Reduces Holdings in The Hartford Insurance Group, Inc. $HIG

Diamond Hill Capital Management Inc. decreased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 75.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 237,721 shares of the insurance provider’s stock after selling 720,009 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in The Hartford Insurance Group were worth $32,758,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Signal Advisors Wealth LLC grew its holdings in shares of The Hartford Insurance Group by 4.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider’s stock worth $240,000 after buying an additional 75 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of The Hartford Insurance Group by 45.3% during the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock worth $36,000 after buying an additional 87 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of The Hartford Insurance Group by 16.4% during the third quarter. Larson Financial Group LLC now owns 619 shares of the insurance provider’s stock worth $83,000 after buying an additional 87 shares during the last quarter. REAP Financial Group LLC grew its holdings in shares of The Hartford Insurance Group by 12.7% during the third quarter. REAP Financial Group LLC now owns 790 shares of the insurance provider’s stock worth $105,000 after buying an additional 89 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs grew its holdings in shares of The Hartford Insurance Group by 0.8% during the fourth quarter. AG2R LA Mondiale Gestion D Actifs now owns 11,939 shares of the insurance provider’s stock worth $1,645,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

In related news, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction dated 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 owned 25,392 shares in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $136.02 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The company has a market cap of $37.29 billion, a P/E ratio of 9.56, a PEG ratio of 2.46 and a beta of 0.50. The Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50. The company has a 50-day moving average price of $135.66 and a 200 day moving average price of $135.84.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The Hartford Insurance Group’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.20 EPS. Research analysts predict that The Hartford Insurance Group, Inc. will post 13.14 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be given a $0.60 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 16.87%.

Analysts Set New Price Targets

HIG has been the topic of a number of research reports. Bank of America raised their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Weiss Ratings reissued a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Wednesday, May 13th. UBS Group lowered their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Roth Mkm raised their price target on 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, Cantor Fitzgerald lowered their price target on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, The Hartford Insurance Group has an average rating of “Moderate Buy” and a consensus target price of $149.31.

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.