Intech Investment Management LLC Lowers Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Intech Investment Management LLC has reduced its holdings in The Hartford Insurance Group by 40.4%, now owning 70,988 shares worth approximately $8.78 million.
• Several institutional investors have made significant changes to their positions, with Woodline Partners LP acquiring a massive 28,218.5% increase, bringing its total to 757,804 shares valued at around $93.76 million.
• Following its earnings report, The Hartford Insurance Group announced a quarterly dividend of $0.52 per share, with a scheduled payment date of October 2nd, reflecting a 1.6% dividend yield.

Intech Investment Management LLC decreased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 40.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 70,988 shares of the insurance provider's stock after selling 48,083 shares during the period. Intech Investment Management LLC's holdings in The Hartford Insurance Group were worth $8,783,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ransom Advisory Ltd purchased a new stake in The Hartford Insurance Group in the first quarter worth $371,000. Advisory Alpha LLC boosted its holdings in shares of The Hartford Insurance Group by 48.2% during the 1st quarter. Advisory Alpha LLC now owns 2,765 shares of the insurance provider's stock valued at $342,000 after buying an additional 899 shares in the last quarter. Bayforest Capital Ltd grew its position in shares of The Hartford Insurance Group by 120.4% in the 1st quarter. Bayforest Capital Ltd now owns 3,084 shares of the insurance provider's stock worth $382,000 after buying an additional 1,685 shares during the period. Optimize Financial Inc increased its stake in shares of The Hartford Insurance Group by 12.9% in the 1st quarter. Optimize Financial Inc now owns 3,170 shares of the insurance provider's stock worth $392,000 after acquiring an additional 363 shares in the last quarter. Finally, Woodline Partners LP increased its stake in shares of The Hartford Insurance Group by 28,218.5% in the 1st quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider's stock worth $93,763,000 after acquiring an additional 755,128 shares in the last quarter. Institutional investors own 93.42% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley upped 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. Piper Sandler upped their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Wells Fargo & Company lifted their price objective on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Raymond James Financial reissued an "outperform" rating and issued a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Finally, Barclays cut their target price on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $138.00.

Insider Transactions 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 that occurred 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 completion of the sale, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

The Hartford Insurance Group Stock Performance

HIG stock opened at $131.13 on Thursday. The stock's 50 day simple moving average is $127.41 and its 200 day simple moving average is $124.22. 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 Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.17. The stock has a market capitalization of $36.87 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72.

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 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The firm had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. During the same quarter in the previous year, the business earned $2.50 earnings per share. The company's revenue was up 7.7% 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 fiscal year.

The Hartford Insurance Group Announces Dividend

The business 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. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a yield of 1.6%. The Hartford Insurance Group's dividend payout ratio is currently 18.86%.

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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