204,857 The Hartford Insurance Group, Inc. $HIG Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Hartford stake by 222.6% in the third quarter, adding 204,857 shares for a total of 296,906 shares valued at approximately $36.3 million.
• Institutional investors and hedge funds own 93.42% of HIG, with BlackRock, Dimensional Fund Advisors, Bank of America, First Trust Advisors, and Legal & General among major holders.
• Analysts maintain a consensus “Hold” rating with a $145.25 price target, while HIG recently traded at $135.07; the company’s latest quarterly earnings of $3.42 per share exceeded estimates of $3.16.

Assenagon Asset Management S.A. lifted its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 222.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,906 shares of the insurance provider's stock after acquiring an additional 204,857 shares during the period. Assenagon Asset Management S.A. owned 0.11% of The Hartford Insurance Group worth $36,329,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of HIG. BlackRock Inc. purchased a new stake in The Hartford Insurance Group during the second quarter valued at about $4,067,052,000. Dimensional Fund Advisors LP raised its holdings in shares of 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 worth $635,490,000 after purchasing an additional 72,448 shares during the period. Bank of America Corp DE raised its holdings in shares of The Hartford Insurance Group by 2.1% in the 1st quarter. Bank of America Corp DE now owns 3,831,622 shares of the insurance provider's stock worth $518,150,000 after purchasing an additional 79,827 shares during the period. First Trust Advisors LP raised its holdings in shares of The Hartford Insurance Group by 5.8% in the 1st quarter. First Trust Advisors LP now owns 3,461,607 shares of the insurance provider's stock worth $468,113,000 after purchasing an additional 189,916 shares during the period. Finally, Legal & General Group Plc acquired a new position in shares of The Hartford Insurance Group in the 2nd quarter valued at about $346,877,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HIG shares. Truist Financial started coverage on The Hartford Insurance Group in a report on Monday, October 12th. They set a "hold" rating and a $137.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Royal Bank Of Canada raised their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "sector perform" rating in a report on Monday, July 27th. Keefe, Bruyette & Woods reduced their price target on shares of The Hartford Insurance Group from $144.00 to $137.00 and set a "market perform" rating on the stock in a research report on Monday, October 12th. Finally, Mizuho reduced their price target on shares of The Hartford Insurance Group from $154.00 to $144.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $145.25.

The Hartford Insurance Group Trading Up 1.7%

NYSE:HIG opened at $135.07 on Friday. The business's 50-day moving average is $133.66 and its two-hundred day moving average is $134.98. The firm has a market capitalization of $36.59 billion, a PE ratio of 8.73, a price-to-earnings-growth ratio of 2.20 and a beta of 0.49. The Hartford Insurance Group, Inc. has a 12 month low of $120.33 and a 12 month high of $146.07. 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 Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping the consensus estimate of $3.16 by $0.26. The company had revenue of $7.26 billion during the quarter, compared to the consensus estimate 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 was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.41 earnings per share. Research analysts predict that The Hartford Insurance Group, Inc. will post 12.88 earnings per share for the current fiscal year.

The Hartford Insurance Group Company Profile

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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