12,878 The Hartford Insurance Group, Inc. $HIG Shares Sold by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. cut its HIG stake by 38.6% in the third quarter, selling 12,878 shares and retaining 20,446 shares valued at approximately $2.5 million. Institutional investors collectively own 93.42% of the company.
• Analyst sentiment remains mixed: HIG has an average “Hold” rating and a $145.25 price target, compared with a share price of $131.86; ratings range from Strong Buy to Hold.
• The Hartford reported quarterly EPS of $3.42, beating estimates of $3.16, while revenue rose 8.1% year over year to $7.26 billion. Shares were trading up 0.5%, with the stock’s 52-week range between $120.33 and $146.07.

First Citizens Bank & Trust Co. decreased its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 38.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,446 shares of the insurance provider's stock after selling 12,878 shares during the period. First Citizens Bank & Trust Co.'s holdings in The Hartford Insurance Group were worth $2,502,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of The Hartford Insurance Group during the second quarter worth approximately $4,067,052,000. Dimensional Fund Advisors LP grew its position in The Hartford Insurance Group by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider's stock valued at $635,490,000 after purchasing an additional 72,448 shares during the period. Bank of America Corp DE raised its holdings in The Hartford Insurance Group by 2.1% during the first quarter. Bank of America Corp DE now owns 3,831,622 shares of the insurance provider's stock worth $518,150,000 after buying an additional 79,827 shares during the last quarter. First Trust Advisors LP raised its holdings in The Hartford Insurance Group by 5.8% during the first quarter. First Trust Advisors LP now owns 3,461,607 shares of the insurance provider's stock worth $468,113,000 after buying an additional 189,916 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in shares of The Hartford Insurance Group in the second quarter valued at $346,877,000. Institutional investors and hedge funds own 93.42% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on HIG. Zacks Research raised The Hartford Insurance Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Piper Sandler restated a "neutral" rating and issued a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. UBS Group dropped their target price on The Hartford Insurance Group from $155.00 to $149.00 and set a "buy" rating on the stock in a report on Tuesday, October 6th. Royal Bank Of Canada lifted their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "sector perform" rating in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat.com, The Hartford Insurance Group has an average rating of "Hold" and an average price target of $145.25.

The Hartford Insurance Group Trading Up 0.5%

Shares of HIG stock opened at $131.86 on Thursday. The company has a market capitalization of $35.72 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 2.14 and a beta of 0.49. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07. The business's fifty day moving average is $134.06 and its 200 day moving average is $134.98. 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 Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to analysts' expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.41 EPS. On average, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.88 EPS for the current fiscal year.

The Hartford Insurance Group News Summary

Here are the key news stories impacting The Hartford Insurance Group this week:

• Positive Sentiment: Employee benefits acquisition expands growth platform: HIG completed its acquisition of Equitable’s Employee Benefits business, adding approximately $500 million in premiums, broadening its product portfolio and enhancing digital capabilities. The deal could strengthen HIG’s benefits business and diversify its revenue base. The Hartford Closes Acquisition Of Equitable’s Employee Benefits Business
• Positive Sentiment: Wells Fargo maintains a Buy rating: Continued bullish coverage from Wells Fargo signals that at least one major analyst sees further upside in HIG, potentially helping offset more cautious views elsewhere. Wells Fargo Remains a Buy on Hartford Insurance
• Positive Sentiment: Analyst target remains above the current share price: Analysts cited by American Banking News have an average target price of $145.25, suggesting potential upside based on consensus expectations. The Hartford Insurance Group Stock Has Average Target Price of $145.25
• Neutral Sentiment: Leadership changes announced: HIG named a new chief risk officer and announced broader management changes. The appointments may improve risk oversight, but investors are likely to monitor execution and continuity under the revised leadership team. Hartford Announces Leadership Changes, Names New Chief Risk Officer
• Negative Sentiment: Mixed analyst signals limit enthusiasm: Truist Securities initiated coverage with a Hold rating, while Keefe, Bruyette & Woods lowered its expectations for HIG’s stock price. These cautious calls could cap near-term gains despite the acquisition and Wells Fargo’s Buy rating. Truist Securities Initiates Coverage at Hold Keefe, Bruyette & Woods Lowers Expectations

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, commonly known as The Hartford, is an insurance and financial services company headquartered in Hartford, Connecticut. Founded in 1810, the company provides insurance products and related services to businesses, individuals and institutional customers primarily in the United States.

The Hartford's main business includes commercial property and casualty insurance, workers' compensation, liability coverage, commercial auto insurance and other products for businesses of various sizes.

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