Quantbot Technologies LP Sells 3,445 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Quantbot Technologies LP reduced its stake in The Hartford Insurance Group by 21.7%, selling 3,445 shares and holding 12,443 shares worth approximately $1.54 million.
• Shares of The Hartford Insurance Group have recently seen a stock price increase of 0.6%, currently trading around $133.98, with a market capitalization of $37.67 billion.
• The company declared a quarterly dividend of $0.52, scheduled for payment on October 2nd, reflecting an annualized dividend yield of 1.6%.

Quantbot Technologies LP cut its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 21.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,443 shares of the insurance provider's stock after selling 3,445 shares during the quarter. Quantbot Technologies LP's holdings in The Hartford Insurance Group were worth $1,540,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in HIG. Park Square Financial Group LLC grew its stake in The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after buying an additional 155 shares during the last quarter. Spurstone Advisory Services LLC acquired a new position in shares of The Hartford Insurance Group in the 4th quarter worth approximately $33,000. Center for Financial Planning Inc. bought a new stake in The Hartford Insurance Group during the 1st quarter worth approximately $33,000. Itau Unibanco Holding S.A. bought a new stake in The Hartford Insurance Group during the 4th quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. increased 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 valued at $36,000 after purchasing an additional 161 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the sale, the chief financial officer directly owned 77,574 shares of the company's stock, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is owned by corporate insiders.

The Hartford Insurance Group Stock Up 0.6%

Shares of NYSE HIG opened at $133.9780 on Friday. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $134.94. The firm's 50-day moving average is $125.64 and its 200-day moving average is $122.44. 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 firm has a market capitalization of $37.67 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.29 and a beta of 0.67.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share 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 business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the previous year, the firm posted $2.50 earnings per share. The Hartford Insurance Group's revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared 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 of this dividend is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The Hartford Insurance Group's dividend payout ratio is 18.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley boosted their price objective on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Cantor Fitzgerald initiated coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an "overweight" rating and a $152.00 price target on the stock. UBS Group raised their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Wells Fargo & Company boosted their target price on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Citigroup assumed coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price target on the stock. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.64.

The Hartford Insurance Group Company 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.

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