The Hartford Insurance Group, Inc. $HIG Shares Sold by Swiss Life Asset Management Ltd

Key Points

• Swiss Life Asset Management reduced its stake in The Hartford Insurance Group by 8.0% in the fourth quarter, selling 10,262 shares and leaving it with 117,402 shares valued at about $16.2 million.
• Analysts remain mixed on HIG, with a consensus rating of Moderate Buy and an average price target of $149.31. Recent actions included Wells Fargo raising its target to $160 and Keefe, Bruyette & Woods lowering its target to $149 while keeping a market perform view.
• The Hartford reported Q1 earnings of $3.09 per share, below expectations, even as revenue rose 6.1% year over year to $14.45 billion. The company also paid a quarterly dividend of $0.60, implying an annual yield of about 1.8%.

Swiss Life Asset Management Ltd lessened its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 117,402 shares of the insurance provider's stock after selling 10,262 shares during the quarter. Swiss Life Asset Management Ltd's holdings in The Hartford Insurance Group were worth $16,178,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPL Wealth Management LLC acquired a new stake in shares of The Hartford Insurance Group in the third quarter valued at approximately $26,000. Cornerstone Planning Group LLC increased its holdings in shares of The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 184 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of The Hartford Insurance Group in the third quarter valued at approximately $29,000. United Financial Planning Group LLC acquired a new stake in shares of The Hartford Insurance Group in the third quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC increased its holdings in shares of The Hartford Insurance Group by 144.8% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods reaffirmed 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. Wells Fargo & Company raised their target price on The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Weiss Ratings upgraded The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, February 13th. Roth Mkm upped their price target on The Hartford Insurance Group from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, January 30th. Finally, Citigroup upped their price target on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a "neutral" rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $149.31.

The Hartford Insurance Group Trading Up 0.1%

NYSE:HIG opened at $132.09 on Tuesday. The firm has a market cap of $36.21 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 2.36 and a beta of 0.50. The stock has a fifty day moving average price of $136.49 and a 200 day moving average price of $135.24. The Hartford Insurance Group, Inc. has a 12-month low of $119.61 and a 12-month high of $144.50. 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 Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The company had revenue of $14.45 billion during the quarter, compared to analysts' expectations of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $2.20 earnings per share. Sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 13.24 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Monday, March 2nd were issued a $0.60 dividend. The ex-dividend date was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group's dividend payout ratio (DPR) is 16.87%.

Insider Transactions at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the transaction, the executive vice president directly owned 25,392 shares in the company, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

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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