Jupiter Asset Management Ltd. Sells 128,782 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Jupiter Asset Management Ltd. has reduced its holdings in The Hartford Insurance Group by 23.4%, now owning approximately $52.16 million in stock.
• The Hartford reported $3.41 earnings per share for the last quarter, surpassing analysts' expectations by $0.58, and revenue was $6.99 billion, slightly below estimates.
• The company will distribute a quarterly dividend of $0.52 per share, with a payout ratio of 18.86%, reflecting a yield of 1.7%.

Jupiter Asset Management Ltd. cut its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 23.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 421,582 shares of the insurance provider's stock after selling 128,782 shares during the quarter. Jupiter Asset Management Ltd. owned 0.15% of The Hartford Insurance Group worth $52,162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HIG. Park Square Financial Group LLC grew its holdings in shares of The Hartford Insurance Group by 146.2% during 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 last quarter. Center for Financial Planning Inc. bought a new stake in The Hartford Insurance Group during the 1st quarter worth approximately $33,000. Meeder Asset Management Inc. grew its holdings in 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 last quarter. Spurstone Advisory Services LLC bought a new stake in The Hartford Insurance Group during the 4th quarter worth approximately $33,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in The Hartford Insurance Group during the 1st quarter worth approximately $37,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on HIG. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday. JPMorgan Chase & Co. boosted their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Barclays dropped their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research report on Monday, July 7th. Keefe, Bruyette & Woods dropped their target price on shares of The Hartford Insurance Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group reduced their target price on shares of 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. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, The Hartford Insurance Group presently has an average rating of "Moderate Buy" and an average target price of $135.67.

The Hartford Insurance Group Trading Down 1.2%

The Hartford Insurance Group stock traded down $1.53 during mid-day trading on Friday, reaching $122.86. 1,797,758 shares of the company traded hands, compared to its average volume of 1,664,619. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The firm's 50 day moving average price is $125.05 and its 200 day moving average price is $120.67. The firm has a market capitalization of $34.54 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 1.22 and a beta of 0.67. The Hartford Insurance Group, Inc. has a 52-week low of $103.96 and a 52-week high of $132.09.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The business had revenue of $6.99 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $2.50 EPS. On average, analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is presently 18.86%.

The Hartford Insurance Group 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.