The Hartford Insurance Group, Inc. $HIG Shares Sold by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC has reduced its stake in The Hartford Insurance Group by 2.6%, now holding 74,728 shares valued at $9,246,000.
• A number of analysts have raised their price targets for The Hartford Insurance Group, with UBS Group increasing theirs from $145.00 to $150.00, while overall ratings reflect a "Moderate Buy" with an average price target of $137.64.
• The Hartford Insurance Group is set to distribute a quarterly dividend of $0.52 per share on October 2nd, representing an annualized yield of 1.6% and a dividend payout ratio of 18.86%.

MetLife Investment Management LLC reduced its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,728 shares of the insurance provider's stock after selling 1,990 shares during the period. MetLife Investment Management LLC's holdings in The Hartford Insurance Group were worth $9,246,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC grew its holdings in The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after acquiring an additional 155 shares during the period. Center for Financial Planning Inc. acquired a new position in The Hartford Insurance Group during the first quarter worth about $33,000. Meeder Asset Management Inc. grew its holdings in The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after acquiring an additional 161 shares during the period. Spurstone Advisory Services LLC acquired a new position in The Hartford Insurance Group during the fourth quarter worth about $33,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in The Hartford Insurance Group during the first quarter worth about $37,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. UBS Group increased their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Wells Fargo & Company increased their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Citigroup assumed coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 price target for the company. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods increased their price target on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $137.64.

The Hartford Insurance Group Trading Up 0.2%

Shares of NYSE HIG opened at $132.83 on Wednesday. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $134.93. The firm has a market capitalization of $37.35 billion, a PE ratio of 12.04, a PEG ratio of 1.29 and a beta of 0.67. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $125.92 and a two-hundred day moving average price of $122.77.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $7.02 billion. During the same period last year, the company posted $2.50 EPS. The business's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm 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 dividend of $0.52 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 18.86%.

Insider Buying and Selling

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the sale, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company's stock.

The Hartford Insurance Group Profile

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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