Assetmark Inc. Sells 7,583 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Assetmark Inc. sold 7,583 shares of The Hartford during Q4, trimming its stake by 1.0% to 735,906 shares (about 0.26% of the company) valued at roughly $101.4 million.
• Company insiders engaged in heavy selling this quarter — CEO Christopher Swift sold 100,970 shares and EVP Lori Rodden sold 40,693 shares, with insiders disposing of 349,282 shares total (≈$48.2M); insiders now own 1.6% of the stock.
• The Hartford reported a strong quarter, beating EPS estimates ($4.06 vs. $3.22) with revenue of $7.31B (up 6.7% YoY), and the stock trades near its 52-week high with a market cap of $38.35B, PE of 10.42, and a $0.60 quarterly dividend (1.7% yield).

Assetmark Inc. reduced its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 735,906 shares of the insurance provider's stock after selling 7,583 shares during the quarter. Assetmark Inc. owned about 0.26% of The Hartford Insurance Group worth $101,408,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group during the third quarter valued at approximately $26,000. Princeton Global Asset Management LLC bought a new stake in shares of The Hartford Insurance Group during the third quarter valued at approximately $27,000. Cornerstone Planning Group LLC grew its stake in shares of The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 184 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of The Hartford Insurance Group during the third quarter valued at approximately $29,000. Finally, United Financial Planning Group LLC bought a new stake in shares of The Hartford Insurance Group during the third quarter valued at approximately $29,000. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $139.01 on Tuesday. The Hartford Insurance Group, Inc. has a 52-week low of $113.27 and a 52-week high of $144.50. The stock has a market cap of $38.35 billion, a PE ratio of 10.42, a PEG ratio of 1.33 and a beta of 0.53. 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 firm's 50 day moving average price is $138.14 and its two-hundred day moving average price is $134.42.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The firm had revenue of $7.31 billion for the quarter, compared to analysts' expectations of $7.29 billion. During the same period last year, the firm earned $2.94 earnings per share. The business's revenue for the quarter was up 6.7% on a year-over-year basis. As a group, analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd were issued a $0.60 dividend. The ex-dividend date was Monday, March 2nd. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group's dividend payout ratio (DPR) is 17.99%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays decreased their price target on shares of The Hartford Insurance Group from $162.00 to $159.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 8th. Weiss Ratings raised shares of The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, February 13th. JPMorgan Chase & Co. increased their price target on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the company a "neutral" rating in a research note on Wednesday, January 7th. Evercore raised their price objective on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an "in-line" rating in a research note on Wednesday, January 7th. Finally, Piper Sandler raised their price objective on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an "overweight" rating in a research note on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $150.33.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, CEO Christopher Swift sold 100,970 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total value of $14,214,556.60. Following the sale, the chief executive officer directly owned 194,817 shares in the company, valued at approximately $27,426,337.26. This trade represents a 34.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the sale, the executive vice president owned 25,392 shares in the company, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 349,282 shares of company stock worth $48,184,324. Company insiders own 1.60% of the company's stock.

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.

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