The Hartford Insurance Group, Inc. $HIG Stock Position Decreased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC reduced its stake in The Hartford Insurance Group by 25.7% in the fourth quarter, selling 10,747 shares and leaving it with 31,098 shares worth about $4.29 million.
• The Hartford reported Q1 earnings of $3.09 per share, missing analyst expectations of $3.39, while revenue came in at $7.23 billion versus estimates of $7.41 billion.
• The company announced a quarterly dividend of $0.60 per share payable July 2, and analysts currently have a consensus Moderate Buy rating with an average price target of $149.31.

Intech Investment Management LLC cut its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 25.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,098 shares of the insurance provider's stock after selling 10,747 shares during the quarter. Intech Investment Management LLC's holdings in The Hartford Insurance Group were worth $4,285,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Canada Post Corp Registered Pension Plan boosted its stake in shares of The Hartford Insurance Group by 252.7% during the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 24,540 shares of the insurance provider's stock worth $3,245,000 after acquiring an additional 17,582 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of The Hartford Insurance Group by 24.9% in the third quarter. Allianz Asset Management GmbH now owns 706,293 shares of the insurance provider's stock worth $94,212,000 after buying an additional 140,624 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of The Hartford Insurance Group by 109.2% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,174 shares of the insurance provider's stock worth $3,358,000 after buying an additional 13,138 shares during the period. Raiffeisen Bank International AG boosted its position in shares of The Hartford Insurance Group by 102.0% in the third quarter. Raiffeisen Bank International AG now owns 20,709 shares of the insurance provider's stock worth $2,739,000 after buying an additional 10,455 shares during the period. Finally, National Pension Service boosted its position in shares of The Hartford Insurance Group by 6.7% in the third quarter. National Pension Service now owns 509,580 shares of the insurance provider's stock worth $67,973,000 after buying an additional 31,912 shares during the period. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Price Performance

HIG opened at $126.67 on Tuesday. The stock has a market cap of $34.72 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 2.28 and a beta of 0.47. 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 current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average price of $135.38 and a 200 day moving average price of $136.00.

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 analysts' consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the business posted $2.20 EPS. The Hartford Insurance Group's revenue for the quarter was up 6.1% on a year-over-year basis. Analysts forecast that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

HIG has been the subject of several recent analyst reports. Barclays decreased their target price on The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating for the company in a research report on Friday, April 24th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $149.00 target price (down from $163.00) on shares of The Hartford Insurance Group in a research report on Monday, March 30th. UBS Group decreased their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, April 27th. Citigroup raised their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. Finally, 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 report on Thursday, April 9th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.31.

Insider Activity

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lori A. Rodden sold 40,693 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the transaction, the executive vice president 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. Additional details regarding this sale are available in the official SEC disclosure. 1.30% of the stock is owned by company insiders.

The Hartford Insurance Group Company 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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