Stevens Capital Management LP Reduces Stock Holdings in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Stevens Capital Management LP has significantly reduced its holdings in The Hartford Insurance Group by 64.1%, now owning 1,657 shares valued at $205,000.
• The Hartford Insurance Group reported quarterly earnings of $2.20 EPS, exceeding expectations, with revenues of $6.81 billion, which was below projections.
• The company has declared a quarterly dividend of $0.52 per share, with a dividend yield of 1.69%, scheduled for payment on October 2nd.

Stevens Capital Management LP cut its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 64.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,657 shares of the insurance provider's stock after selling 2,964 shares during the quarter. Stevens Capital Management LP's holdings in The Hartford Insurance Group were worth $205,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park Square Financial Group LLC increased its stake in shares of The Hartford Insurance Group by 146.2% during the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after purchasing an additional 155 shares in the last quarter. Spurstone Advisory Services LLC acquired a new stake in The Hartford Insurance Group during the 4th quarter valued at $33,000. Center for Financial Planning Inc. acquired a new stake in The Hartford Insurance Group during the 1st quarter valued at $33,000. Itau Unibanco Holding S.A. purchased a new position in The Hartford Insurance Group during the fourth quarter worth $35,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of The Hartford Insurance Group in the first quarter worth $37,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on HIG shares. JPMorgan Chase & Co. increased their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research note on Tuesday. UBS Group raised their price target 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. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Jefferies Financial Group reduced their price objective on shares of The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Finally, Barclays lowered their target price on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $134.83.

The Hartford Insurance Group Trading Up 0.6%

NYSE:HIG traded up $0.69 on Wednesday, hitting $125.33. 432,448 shares of the stock were exchanged, compared to its average volume of 1,668,990. The stock has a market cap of $35.61 billion, a PE ratio of 11.36, a PEG ratio of 1.27 and a beta of 0.69. The Hartford Insurance Group, Inc. has a fifty-two week low of $103.96 and a fifty-two week high of $132.09. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average of $125.37 and a 200-day moving average of $120.37.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (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 19.83%. The firm had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the company earned $2.50 EPS. The company's revenue was up 7.7% on a year-over-year basis. As a group, 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.66%. The Hartford Insurance Group's payout ratio is 18.86%.

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.