Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $1.63 Million Stake in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Empirical Financial Services LLC has significantly reduced its stake in The Hartford Insurance Group by 65.5%, leaving it with 13,185 shares valued at approximately $1.63 million.
• The Hartford reported a quarterly EPS of $3.41, exceeding analysts' estimates of $2.83, with a year-over-year revenue increase of 7.7%.
• The company declared a quarterly dividend of $0.52, which will be paid on October 2nd, translating to an annualized yield of 1.7%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 65.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,185 shares of the insurance provider's stock after selling 25,063 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in The Hartford Insurance Group were worth $1,631,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HIG. Trexquant Investment LP acquired a new stake in The Hartford Insurance Group during the fourth quarter worth approximately $8,387,000. Huntington National Bank grew its position in The Hartford Insurance Group by 1.7% during the fourth quarter. Huntington National Bank now owns 10,621 shares of the insurance provider's stock worth $1,162,000 after buying an additional 180 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in The Hartford Insurance Group during the fourth quarter worth approximately $6,257,000. Integrated Quantitative Investments LLC acquired a new stake in The Hartford Insurance Group during the fourth quarter worth approximately $418,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in The Hartford Insurance Group during the fourth quarter worth approximately $9,549,000. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Price Performance

HIG stock opened at $122.86 on Friday. The company has a market capitalization of $34.54 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.23 and a beta of 0.69. 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 52-week low of $103.96 and a 52-week high of $132.09. The business has a 50-day simple moving average of $125.05 and a two-hundred day simple moving average of $120.61.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS 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 Hartford Insurance Group's revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.50 EPS. Research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors 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 1.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is 18.86%.

Analyst Upgrades and Downgrades

HIG has been the subject of several recent analyst reports. Jefferies Financial Group cut their target price on The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Raymond James Financial restated an "outperform" rating and set a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a research note on Friday. UBS Group upped their target price on The Hartford Insurance Group from $142.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. upped their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Wells Fargo & Company upped their target price on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $135.67.

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.

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