The Hartford Insurance Group, Inc. $HIG Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer cut its stake in The Hartford Insurance Group by 20% in the fourth quarter, selling 9,681 shares and leaving it with 38,667 shares valued at about $5.36 million.
• The stock was little changed, opening at $134.02 and trading near its recent moving averages, while the company’s market cap stood at $36.74 billion.
• The Hartford missed quarterly EPS estimates with $3.09 versus $3.39 expected, though revenue rose 6.1% year over year; the company also paid a $0.60 quarterly dividend and analysts currently rate the stock a Moderate Buy.

Bank Julius Baer & Co. Ltd Zurich decreased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,667 shares of the insurance provider's stock after selling 9,681 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in The Hartford Insurance Group were worth $5,361,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HIG. Danske Bank A S acquired a new position in The Hartford Insurance Group in the third quarter valued at approximately $91,398,000. Balyasny Asset Management L.P. lifted its holdings in The Hartford Insurance Group by 6,431.8% in the third quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider's stock valued at $85,829,000 after acquiring an additional 633,592 shares during the period. Zurich Insurance Group Ltd FI lifted its holdings in The Hartford Insurance Group by 208.2% in the third quarter. Zurich Insurance Group Ltd FI now owns 799,973 shares of the insurance provider's stock valued at $106,708,000 after acquiring an additional 540,445 shares during the period. Invesco Ltd. lifted its holdings in The Hartford Insurance Group by 10.3% in the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock valued at $711,141,000 after acquiring an additional 496,821 shares during the period. Finally, First Trust Advisors LP lifted its holdings in The Hartford Insurance Group by 16.7% in the third quarter. First Trust Advisors LP now owns 3,162,437 shares of the insurance provider's stock valued at $421,837,000 after acquiring an additional 452,274 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Trading Down 0.2%

Shares of HIG stock opened at $134.02 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $36.74 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 2.41 and a beta of 0.50. The stock has a 50 day simple moving average of $135.86 and a 200-day simple moving average of $135.41. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The business had revenue of $14.45 billion for the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 earnings per share. On average, equities research analysts expect that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, March 2nd. The Hartford Insurance Group's dividend payout ratio is presently 16.87%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the transaction, the executive vice president directly owned 25,392 shares of the company's stock, valued at $3,505,365.60. This represents a 61.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on HIG. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $149.00 price target (down from $163.00) on shares of The Hartford Insurance Group in a report on Monday, March 30th. Morgan Stanley boosted their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an "equal weight" rating in a report on Tuesday, February 3rd. Cantor Fitzgerald decreased their price target on The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. Roth Mkm boosted their price target on The Hartford Insurance Group from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Friday, January 30th. Finally, Wells Fargo & Company boosted their price target on The Hartford Insurance Group from $156.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $149.31.

The Hartford Insurance Group 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.

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