Pacer Advisors Inc. Sells 14,631 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Pacer Advisors cut its Hartford Insurance Group stake by 41.6% in the first quarter, selling 14,631 shares and retaining 20,565 shares valued at approximately $2.78 million. Institutional investors collectively own 93.42% of HIG.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $149.67. Recent targets range from $146 to $164, including upgraded targets from RBC and Cantor Fitzgerald.
• Hartford reported quarterly EPS of $3.42, beating estimates by $0.26, while revenue rose 8.1% year over year to $7.26 billion. The company also declared a quarterly dividend of $0.60 per share, representing a 1.7% annualized yield.

Pacer Advisors Inc. lowered its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 41.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,565 shares of the insurance provider's stock after selling 14,631 shares during the quarter. Pacer Advisors Inc.'s holdings in The Hartford Insurance Group were worth $2,781,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of HIG. First Pacific Financial acquired a new position in shares of The Hartford Insurance Group in the 1st quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group during the 3rd quarter worth approximately $26,000. Phillip James Consulting Co. acquired a new stake in The Hartford Insurance Group during the 1st quarter worth approximately $29,000. Sunbelt Securities Inc. bought a new position in The Hartford Insurance Group in the third quarter valued at approximately $29,000. Finally, Fideuram Asset Management Ireland dac bought a new position in The Hartford Insurance Group in the fourth quarter valued at approximately $36,000. Institutional investors own 93.42% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HIG shares. Royal Bank Of Canada increased their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research report on Monday, July 27th. Piper Sandler reaffirmed a "neutral" rating and issued a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Wells Fargo & Company reduced their target price on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, July 27th. Weiss Ratings cut The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a report on Wednesday, May 27th. Finally, Cantor Fitzgerald lifted their price target on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $149.67.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president owned 38,208 shares of the company's stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by company insiders.

The Hartford Insurance Group Trading Up 0.5%

The Hartford Insurance Group stock opened at $144.32 on Friday. The company has a market cap of $39.09 billion, a price-to-earnings ratio of 9.33, a P/E/G ratio of 3.52 and a beta of 0.46. The firm has a 50-day moving average of $135.32 and a 200-day moving average of $136.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a one year low of $120.33 and a one year high of $146.07.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The business had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the business earned $3.41 earnings per share. The Hartford Insurance Group's quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts expect that The Hartford Insurance Group, Inc. will post 12.84 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 15.51%.

The Hartford Insurance Group Company 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.

Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source