The Hartford Insurance Group, Inc. $HIG Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management reduced its stake in The Hartford Insurance Group by 10.7% in the first quarter, selling 33,752 shares and leaving it with 280,654 shares worth about $38 million.
• The Hartford reported Q1 earnings of $3.09 per share, missing analyst estimates of $3.39, while revenue came in at $7.23 billion versus expectations of $7.41 billion.
• The company declared a quarterly dividend of $0.60 per share, and analysts remain generally positive with a consensus rating of “Moderate Buy” and an average price target of $147.31.

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 10.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 280,654 shares of the insurance provider's stock after selling 33,752 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned about 0.10% of The Hartford Insurance Group worth $37,953,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new stake in The Hartford Insurance Group during the 3rd quarter valued at approximately $26,000. United Financial Planning Group LLC purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at approximately $29,000. Sunbelt Securities Inc. purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC raised its stake in shares of The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider's stock worth $35,000 after purchasing an additional 152 shares during the last quarter. Finally, Sound Income Strategies LLC raised its stake in shares of The Hartford Insurance Group by 45.3% during the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider's stock worth $36,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Stock Up 0.0%

The Hartford Insurance Group stock opened at $128.26 on Friday. The stock's 50 day moving average price is $133.61 and its 200 day moving average price is $135.40. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50. The company has a market cap of $35.16 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 2.33 and a beta of 0.47. 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 Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $7.23 billion during the quarter, compared to analysts' expectations of $7.41 billion. During the same quarter in the previous year, the company posted $2.20 EPS. The company's revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 13.03 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The Hartford Insurance Group's dividend payout ratio is 16.87%.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HIG has been the topic of a number of analyst reports. Cantor Fitzgerald lowered their price objective on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Barclays cut their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating for the company in a research report on Friday, June 12th. Wells Fargo & Company reduced their target price on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an "overweight" rating for the company in a research note on Friday, June 5th. Mizuho lowered their target price on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an "outperform" rating on the stock in a report on Friday, June 5th. Finally, Piper Sandler dropped their price target on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an "overweight" rating on the stock in a research note on Thursday, June 11th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, The Hartford Insurance Group currently has an average rating of "Moderate Buy" and an average price target of $147.31.

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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