Kepler Cheuvreux Suisse SA Lowers Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Kepler Cheuvreux Suisse SA reduced its stake in The Hartford Insurance Group by 6.8% in the fourth quarter, though it still held 130,275 shares valued at about $17.95 million.
• Analysts remain generally positive on HIG, with a consensus rating of “Moderate Buy” and an average target price of $149.31, even as some firms trimmed price targets slightly.
• The company reported mixed quarterly results, missing EPS estimates at $3.09 versus $3.39 expected, but revenue came in well above forecasts and rose 6.1% year over year.

Kepler Cheuvreux Suisse SA cut its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 130,275 shares of the insurance provider's stock after selling 9,491 shares during the quarter. Kepler Cheuvreux Suisse SA's holdings in The Hartford Insurance Group were worth $17,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. State Street Corp boosted its position in shares of The Hartford Insurance Group by 0.4% during the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider's stock worth $2,146,749,000 after purchasing an additional 55,983 shares during the period. Invesco Ltd. boosted its position in shares of The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock worth $711,141,000 after purchasing an additional 496,821 shares during the period. Nordea Investment Management AB boosted its position in shares of The Hartford Insurance Group by 1.9% during the 4th quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider's stock worth $606,956,000 after purchasing an additional 81,712 shares during the period. Franklin Resources Inc. boosted its position in shares of The Hartford Insurance Group by 3.3% during the 3rd quarter. Franklin Resources Inc. now owns 3,376,931 shares of the insurance provider's stock worth $450,449,000 after purchasing an additional 108,765 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of The Hartford Insurance Group by 7.5% during the 2nd quarter. Bank of America Corp DE now owns 3,281,825 shares of the insurance provider's stock worth $416,365,000 after purchasing an additional 228,780 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of research analyst reports. UBS Group lowered their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, April 27th. Barclays lowered their target price on The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating for the company in a report on Friday, April 24th. Mizuho raised their target price on The Hartford Insurance Group from $158.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Morgan Stanley raised their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an "equal weight" rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings upgraded The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, The Hartford Insurance Group currently has an average rating of "Moderate Buy" and an average target price of $149.31.

Insider Activity

In other news, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction on Tuesday, March 10th. The shares were 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 directly owned 25,392 shares of the company's stock, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company's stock.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $131.94 on Monday. The stock has a 50-day simple moving average of $136.85 and a 200-day simple moving average of $135.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $36.17 billion, a PE ratio of 9.27, a PEG ratio of 2.36 and a beta of 0.50. The Hartford Insurance Group, Inc. has a 1 year low of $119.61 and a 1 year high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The company had revenue of $14.45 billion during the quarter, compared to analysts' expectations of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 EPS. On average, analysts predict that The Hartford Insurance Group, Inc. will post 13.24 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, March 2nd. The Hartford Insurance Group's payout ratio is 16.87%.

The Hartford Insurance Group Profile

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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