The Hartford Insurance Group, Inc. $HIG Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Hartford stake by 92% in the third quarter, selling 31,810 shares and retaining 2,775 shares valued at approximately $340,000. Institutional investors and hedge funds collectively own 93.42% of HIG.
• HIG shares opened at $135.07, up 1.7%, with a market capitalization of $36.59 billion. The company recently reported quarterly EPS of $3.42, beating estimates of $3.16, while revenue rose 8.1% year over year to $7.26 billion.
• Analysts maintain a consensus “Hold” rating, with one Strong Buy, five Buys and twelve Holds; the average price target is $145.25.

Curated Wealth Partners LLC lowered its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 92.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,775 shares of the insurance provider's stock after selling 31,810 shares during the period. Curated Wealth Partners LLC's holdings in The Hartford Insurance Group were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. bought a new position in The Hartford Insurance Group during the 2nd quarter worth approximately $4,067,052,000. Dimensional Fund Advisors LP increased its stake in The Hartford Insurance Group by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider's stock valued at $635,490,000 after purchasing an additional 72,448 shares in the last quarter. Bank of America Corp DE increased its stake in The Hartford Insurance Group by 2.1% in the first quarter. Bank of America Corp DE now owns 3,831,622 shares of the insurance provider's stock valued at $518,150,000 after purchasing an additional 79,827 shares in the last quarter. First Trust Advisors LP increased its stake in The Hartford Insurance Group by 5.8% in the first quarter. First Trust Advisors LP now owns 3,461,607 shares of the insurance provider's stock valued at $468,113,000 after purchasing an additional 189,916 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in The Hartford Insurance Group in the second quarter worth $346,877,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Up 1.7%

Shares of HIG stock opened at $135.07 on Friday. The Hartford Insurance Group, Inc. has a 12-month low of $120.33 and a 12-month high of $146.07. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average of $133.66 and a 200-day moving average of $134.98. The company has a market capitalization of $36.59 billion, a price-to-earnings ratio of 8.73, a P/E/G ratio of 2.20 and a beta of 0.49.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.16 by $0.26. The business had revenue of $7.26 billion for the quarter, compared to analysts' expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm's revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.41 EPS. As a group, equities research analysts predict that The Hartford Insurance Group, Inc. will post 12.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HIG. Cantor Fitzgerald lifted their price target on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 7th. Weiss Ratings raised shares of The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a report on Thursday, October 8th. Mizuho lowered their price objective on shares of The Hartford Insurance Group from $154.00 to $144.00 and set a "neutral" rating for the company in a research report on Wednesday, October 7th. JPMorgan Chase & Co. raised their price objective on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $145.25.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, commonly known as The Hartford, is an insurance and financial services company headquartered in Hartford, Connecticut. Founded in 1810, the company provides insurance products and related services to businesses, individuals and institutional customers primarily in the United States.

The Hartford's main business includes commercial property and casualty insurance, workers' compensation, liability coverage, commercial auto insurance and other products for businesses of various sizes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.