The Hartford Insurance Group, Inc. (NYSE:HIG) Stock Position Reduced by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in The Hartford Insurance Group by 5.1%, now holding approximately 3.92 million shares worth about $485.38 million, representing 1.2% of its overall portfolio.
• The company recently reported $3.41 earnings per share, surpassing analysts' expectations, and generated revenue of $6.99 billion, slightly below the anticipated $7.02 billion.
• A quarterly dividend of $0.52 per share has been announced, with an annual yield of 1.7%, further emphasizing the company's financial stability.

LSV Asset Management trimmed its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,922,932 shares of the insurance provider's stock after selling 208,751 shares during the quarter. The Hartford Insurance Group accounts for approximately 1.2% of LSV Asset Management's holdings, making the stock its 13th biggest holding. LSV Asset Management owned about 1.38% of The Hartford Insurance Group worth $485,384,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in The Hartford Insurance Group by 14,049.5% in the 1st quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock worth $1,761,930,000 after purchasing an additional 1,413,945 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of The Hartford Insurance Group by 48.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock valued at $247,761,000 after acquiring an additional 735,170 shares during the last quarter. Northern Trust Corp lifted its position in The Hartford Insurance Group by 17.2% in the fourth quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock worth $387,021,000 after buying an additional 519,717 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in The Hartford Insurance Group in the fourth quarter worth $46,271,000. Finally, AustralianSuper Pty Ltd increased its stake in shares of The Hartford Insurance Group by 31.9% during the first quarter. AustralianSuper Pty Ltd now owns 1,600,215 shares of the insurance provider's stock valued at $197,995,000 after buying an additional 387,141 shares during the period. Institutional investors own 93.42% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HIG shares. Keefe, Bruyette & Woods lowered their price target on The Hartford Insurance Group from $140.00 to $133.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Jefferies Financial Group decreased their target price on The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating for the company in a report on Friday, April 11th. Morgan Stanley lifted their target price on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday. Barclays decreased their target price on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Finally, Wells Fargo & Company lifted their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $135.67.

The Hartford Insurance Group Trading Down 1.2%

NYSE HIG traded down $1.53 during trading hours on Friday, hitting $122.86. 1,797,758 shares of the company's stock were exchanged, compared to its average volume of 1,664,619. The business's 50 day moving average is $125.05 and its 200-day moving average is $120.67. The Hartford Insurance Group, Inc. has a 12-month low of $103.96 and a 12-month high of $132.09. The firm has a market capitalization of $34.54 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.22 and a beta of 0.67. 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 (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping the consensus estimate of $2.83 by $0.58. The company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%. The firm's revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.50 earnings per share. As a group, analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS 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. Stockholders of record on Tuesday, September 2nd will be paid a $0.52 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group's dividend payout ratio (DPR) is 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.