The Hartford Insurance Group, Inc. $HIG Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC has significantly cut its position in The Hartford Insurance Group by 79.7% in the first quarter, reducing its holdings to 154,439 shares.
• Various institutions have altered their stakes in The Hartford, with Park Square Financial Group increasing its holdings by 146.2%, while other firms like Spurstone Advisory Services and Center for Financial Planning acquired new stakes valued around $33,000.
• An analyst report downgraded The Hartford Insurance Group from a "buy" to a "hold," with a current average rating of "Moderate Buy" and a consensus price target of $138.00.

Acadian Asset Management LLC cut its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 79.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,439 shares of the insurance provider's stock after selling 608,172 shares during the quarter. Acadian Asset Management LLC owned 0.05% of The Hartford Insurance Group worth $19,105,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Park Square Financial Group LLC boosted its holdings in The Hartford Insurance Group by 146.2% in the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 155 shares during the period. Spurstone Advisory Services LLC purchased a new stake in shares of The Hartford Insurance Group in the 4th quarter valued at about $33,000. Center for Financial Planning Inc. purchased a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $33,000. Meeder Asset Management Inc. lifted its holdings in shares of The Hartford Insurance Group by 123.8% in 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 during the last quarter. Finally, Smallwood Wealth Investment Management LLC acquired a new position in The Hartford Insurance Group in the 1st quarter valued at about $37,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on HIG. Wall Street Zen cut The Hartford Insurance Group from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Wells Fargo & Company upped their target price on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods increased their price target on The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. UBS Group increased their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Finally, Piper Sandler upped their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $138.00.

Insiders Place Their Bets

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction on 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 $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

The Hartford Insurance Group Trading Up 1.6%

Shares of HIG opened at $133.28 on Friday. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.17. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $37.47 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 1.27 and a beta of 0.72. The stock's 50-day moving average price is $127.58 and its 200 day moving average price is $124.36.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The firm had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period in the previous year, the company posted $2.50 earnings per share. The company's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

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. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 18.86%.

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.

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