Assetmark Inc. Sells 127,041 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Assetmark Inc. reduced its stake in The Hartford Insurance Group (NYSE:HIG) by 14.3% during Q1, now holding approximately 760,338 shares valued at $94 million.
• The Hartford Insurance Group reported $2.20 EPS for the quarter, exceeding estimates, with revenue of $6.81 billion, up 6.1% from the previous year.
• The company recently declared a quarterly dividend of $0.52, resulting in an annualized dividend yield of 1.69%.

Assetmark Inc. lowered its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 760,338 shares of the insurance provider's stock after selling 127,041 shares during the period. Assetmark Inc. owned 0.27% of The Hartford Insurance Group worth $94,077,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Wayfinding Financial LLC grew its stake in The Hartford Insurance Group by 3.0% in the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider's stock valued at $355,000 after buying an additional 84 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of The Hartford Insurance Group by 1.7% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 5,580 shares of the insurance provider's stock valued at $690,000 after purchasing an additional 95 shares in the last quarter. HighPoint Advisor Group LLC grew its position in shares of The Hartford Insurance Group by 4.1% during the 1st quarter. HighPoint Advisor Group LLC now owns 2,447 shares of the insurance provider's stock valued at $299,000 after purchasing an additional 96 shares in the last quarter. NorthCrest Asset Manangement LLC grew its position in shares of The Hartford Insurance Group by 0.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,286 shares of the insurance provider's stock valued at $1,453,000 after purchasing an additional 105 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of The Hartford Insurance Group by 1.9% during the 1st quarter. International Assets Investment Management LLC now owns 5,766 shares of the insurance provider's stock valued at $713,000 after purchasing an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of The Hartford Insurance Group from $125.00 to $129.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their price target on shares of The Hartford Insurance Group from $140.00 to $133.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Raymond James Financial boosted their price target on shares of The Hartford Insurance Group from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Barclays reduced their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research report on Monday, July 7th. Finally, Morgan Stanley lifted their price objective on shares of The Hartford Insurance Group from $115.00 to $130.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.67.

The Hartford Insurance Group Trading Down 1.1%

Shares of NYSE:HIG traded down $1.36 during midday trading on Monday, hitting $122.00. 611,673 shares of the stock traded hands, compared to its average volume of 1,661,348. The stock has a market capitalization of $34.66 billion, a PE ratio of 12.16, a P/E/G ratio of 1.29 and a beta of 0.69. The business's 50 day moving average is $125.71 and its two-hundred day moving average is $120.23. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.26. The Hartford Insurance Group, Inc. has a one year low of $103.96 and a one year high of $132.09.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.05. The Hartford Insurance Group had a net margin of 11.10% and a return on equity of 18.73%. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same period in the prior year, the firm earned $2.34 earnings per share. The Hartford Insurance Group's revenue was up 6.1% on a year-over-year basis. As a group, research 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. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is 20.74%.

The Hartford Insurance Group Company 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.