Hotchkis & Wiley Capital Management LLC Sells 1,097,056 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in The Hartford Insurance Group by 31.9%, selling 1,097,056 shares and now holding approximately 0.83% of the company.
• The Hartford Insurance Group reported $3.41 earnings per share for the last quarter, significantly exceeding analysts' expectations of $2.83, with a revenue of $6.99 billion.
• The company announced a quarterly dividend of $0.52 per share, reflecting an annualized dividend yield of 1.6% and a payout ratio of 18.86%.

Hotchkis & Wiley Capital Management LLC cut its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 31.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,346,034 shares of the insurance provider's stock after selling 1,097,056 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.83% of The Hartford Insurance Group worth $290,275,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of HIG. Park Square Financial Group LLC boosted its holdings in 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 purchasing an additional 155 shares during the period. Spurstone Advisory Services LLC bought a new stake in The Hartford Insurance Group in the 4th quarter valued at $33,000. Center for Financial Planning Inc. bought a new position in shares of The Hartford Insurance Group during the 1st quarter worth about $33,000. Itau Unibanco Holding S.A. bought a new position in shares of The Hartford Insurance Group during the 4th quarter worth about $35,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of The Hartford Insurance Group by 123.8% during the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after acquiring an additional 161 shares during the period. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Trading Up 0.6%

HIG opened at $133.9780 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $37.67 billion, a PE ratio of 12.15, a PEG ratio of 1.29 and a beta of 0.67. The Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $134.94. The firm has a 50-day moving average price of $125.64 and a two-hundred day moving average price of $122.44.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion during 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 company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.50 EPS. As a group, equities analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 18.86%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HIG. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price objective (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Citigroup began coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price objective for the company. Morgan Stanley raised their price objective on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Finally, UBS Group increased their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, The Hartford Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.64.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.50% of the company's stock.

About The Hartford Insurance Group

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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