The Hartford Insurance Group, Inc. $HIG Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in The Hartford Insurance Group by 15.9% in the fourth quarter, selling 14,150 shares and leaving it with 75,050 shares valued at about $10.34 million.
• The company reported mixed quarterly results, with EPS of $3.09 coming in below estimates, while revenue rose 6.1% year over year to $14.45 billion and profitability remained solid with a 22.52% return on equity.
• Wall Street sentiment remains Moderately Bullish, with an average price target of $149.31 and several firms maintaining buy or overweight ratings despite some target price cuts.

Gabelli Funds LLC lowered its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 15.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,050 shares of the insurance provider's stock after selling 14,150 shares during the quarter. Gabelli Funds LLC's holdings in The Hartford Insurance Group were worth $10,342,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Signal Advisors Wealth LLC lifted its holdings in The Hartford Insurance Group by 4.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider's stock worth $240,000 after purchasing an additional 75 shares during the period. Sound Income Strategies LLC lifted its holdings in The Hartford Insurance Group by 45.3% in 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 period. Larson Financial Group LLC lifted its holdings in The Hartford Insurance Group by 16.4% in the third quarter. Larson Financial Group LLC now owns 619 shares of the insurance provider's stock worth $83,000 after purchasing an additional 87 shares during the period. REAP Financial Group LLC lifted its holdings in The Hartford Insurance Group by 12.7% in the third quarter. REAP Financial Group LLC now owns 790 shares of the insurance provider's stock worth $105,000 after purchasing an additional 89 shares during the period. Finally, AG2R LA Mondiale Gestion D Actifs lifted its holdings in The Hartford Insurance Group by 0.8% in the fourth quarter. AG2R LA Mondiale Gestion D Actifs now owns 11,939 shares of the insurance provider's stock worth $1,645,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock opened at $134.90 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company's 50-day moving average price is $135.70 and its two-hundred day moving average price is $135.67. The Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50. The stock has a market cap of $36.98 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 2.45 and a beta of 0.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 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 $14.45 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter last year, the firm posted $2.20 earnings per share. The Hartford Insurance Group's revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HIG. Roth Mkm upped their price objective on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, January 30th. UBS Group reduced their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a report on Monday, April 27th. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of The Hartford Insurance Group in a report on Wednesday, May 13th. Wells Fargo & Company upped their price objective on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Finally, Barclays reduced their price objective on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating for the company in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $149.31.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the business's stock in a transaction dated 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 sale, the executive vice president owned 25,392 shares in the company, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company's stock.

About The Hartford Insurance Group

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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