The Hartford Insurance Group, Inc. $HIG Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC reduced its stake in The Hartford Insurance Group by 15.3% in Q1, now holding 10,669 shares valued at approximately $1.32 million.
• The Hartford reported EPS of $3.41 for the last quarter, exceeding analyst estimates by $0.58, while revenue increased by 7.7% year-over-year, totaling $6.99 billion.
• The company announced a quarterly dividend of $0.52 per share, with an annualized yield of 1.6%, payable on October 2nd to shareholders recorded by September 2nd.

AlphaQuest LLC trimmed its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 15.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,669 shares of the insurance provider's stock after selling 1,928 shares during the period. AlphaQuest LLC's holdings in The Hartford Insurance Group were worth $1,320,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in HIG. Park Square Financial Group LLC raised its stake in shares of The Hartford Insurance Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after acquiring an additional 155 shares during the period. Spurstone Advisory Services LLC acquired a new stake in shares of The Hartford Insurance Group during the fourth quarter worth about $33,000. Center for Financial Planning Inc. acquired a new stake in shares of The Hartford Insurance Group during the first quarter worth about $33,000. Itau Unibanco Holding S.A. acquired a new stake in shares of The Hartford Insurance Group during the fourth quarter worth about $35,000. Finally, Meeder Asset Management Inc. lifted its position in shares of The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after purchasing an additional 161 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Down 0.6%

HIG stock traded down $0.84 during midday trading on Thursday, reaching $132.23. 1,011,407 shares of the company were exchanged, compared to its average volume of 1,632,089. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $134.93. The stock's 50-day simple moving average is $126.09 and its 200 day simple moving average is $122.84. The company has a market cap of $37.18 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 1.29 and a beta of 0.67.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The company had revenue of $6.99 billion for the quarter, compared to analysts' expectations of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $2.50 earnings per share. On average, equities analysts forecast 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, October 2nd. Stockholders of record on Tuesday, September 2nd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is presently 18.86%.

Analyst Ratings Changes

Several analysts have recently issued reports on HIG shares. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Barclays reduced their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research report on Monday, July 7th. Citigroup assumed coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 target price on the stock. Morgan Stanley raised their target price on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Finally, Cantor Fitzgerald assumed coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.64.

Insider Activity at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction on Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the transaction, the chief financial officer directly owned 77,574 shares of the company's stock, valued at $9,580,389. The trade was a 31.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is owned by insiders.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.