The Hartford Insurance Group, Inc. (NYSE:HIG) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its holdings in The Hartford Insurance Group by 68.9% during Q1, now owning 14,806 shares valued at $1.83 million.
• Several hedge funds significantly increased their stakes in The Hartford, with New Age Alpha Advisors raising their investment by over 3,110% in the last quarter.
• Analysts have generally optimistic expectations for The Hartford, with a current consensus rating of "Moderate Buy" and an average price target of $134.75.

Pacer Advisors Inc. cut its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 68.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,806 shares of the insurance provider's stock after selling 32,781 shares during the quarter. Pacer Advisors Inc.'s holdings in The Hartford Insurance Group were worth $1,832,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of The Hartford Insurance Group by 14,049.5% in the first quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock worth $1,761,930,000 after buying an additional 1,413,945 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of The Hartford Insurance Group by 48.1% in the fourth 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 period. Northern Trust Corp grew its holdings in shares of 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 purchasing 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 about $46,271,000. Finally, AustralianSuper Pty Ltd lifted its position 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 last quarter. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Stock Down 0.0%

NYSE HIG traded down $0.04 during trading hours on Wednesday, hitting $124.60. The company's stock had a trading volume of 2,024,304 shares, compared to its average volume of 1,539,306. 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 company has a market capitalization of $35.03 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.30 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 52 week low of $103.96 and a 52 week high of $132.09. The company's 50-day simple moving average is $125.37 and its two-hundred day simple moving average is $120.37.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company had revenue of $6.99 billion for the quarter, compared to analysts' expectations of $7.02 billion. During the same quarter last year, the company earned $2.50 EPS. The firm's revenue was up 7.7% compared to the same quarter last year. Research 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders 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 1.67%. The Hartford Insurance Group's payout ratio is currently 18.86%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HIG. UBS Group raised their price objective on shares of The Hartford Insurance Group from $142.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. 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. Piper Sandler increased their price target on The Hartford Insurance Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. JPMorgan Chase & Co. raised their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Wall Street Zen raised The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $134.83.

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.