Quantitative Investment Management LLC Cuts Stake in The Hartford Insurance Group, Inc. $HIG

Key Points

• Quantitative Investment Management LLC sold 3,317 shares of The Hartford Insurance Group, decreasing its holdings by 41.4% to a total of 4,687 shares, valued at approximately $579,000.
• Recent analysts' reports show a consensus rating of "Moderate Buy" for The Hartford Insurance Group, with price target adjustments ranging from $135.00 to $152.00.
• The Hartford Insurance Group announced a quarterly dividend of $0.52 per share, set to be paid on October 2nd, representing an annualized yield of 1.6%.

Quantitative Investment Management LLC cut its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 41.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,687 shares of the insurance provider's stock after selling 3,317 shares during the quarter. Quantitative Investment Management LLC's holdings in The Hartford Insurance Group were worth $579,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC lifted its stake in shares of 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 period. Spurstone Advisory Services LLC acquired a new stake in shares of The Hartford Insurance Group during the fourth quarter worth $33,000. Center for Financial Planning Inc. acquired a new stake in shares of The Hartford Insurance Group during the first quarter worth $33,000. Itau Unibanco Holding S.A. acquired a new stake in shares of The Hartford Insurance Group during the fourth quarter worth $35,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after buying an additional 161 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 several research reports. JPMorgan Chase & Co. lifted their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Citigroup initiated 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 objective for the company. Wells Fargo & Company raised 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 report on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods upped their price target on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.64.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock traded up $0.09 during trading hours on Friday, reaching $132.31. The stock had a trading volume of 1,142,839 shares, compared to its average volume of 1,632,582. The stock's 50 day moving average is $126.24 and its 200 day moving average is $122.98. The firm has a market capitalization of $37.20 billion, a PE ratio of 12.00, a PEG ratio of 1.29 and a beta of 0.67. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $134.93. 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 Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.50 earnings per share. Equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be given 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 1.6%. The Hartford Insurance Group's dividend payout ratio is 18.86%.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company's stock.

About The Hartford Insurance Group

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.