The Hartford Insurance Group, Inc. $HIG Stock Position Reduced by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in The Hartford Insurance Group by 4.3% in the fourth quarter, selling 137,381 shares and leaving it with 3.06 million shares valued at about $422.3 million.
• The Hartford reported Q1 earnings of $3.09 per share, missing analyst expectations of $3.39, while revenue of $7.23 billion also came in below estimates. Revenue still rose 6.1% year over year.
• The company declared a quarterly dividend of $0.60 per share, equal to an annualized yield of about 1.8%, and analysts currently rate the stock a Moderate Buy with a consensus price target of $149.31.

LSV Asset Management lessened its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,064,831 shares of the insurance provider's stock after selling 137,381 shares during the period. The Hartford Insurance Group comprises 0.9% of LSV Asset Management's portfolio, making the stock its 18th largest position. LSV Asset Management owned 1.10% of The Hartford Insurance Group worth $422,334,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of HIG. Ashton Thomas Private Wealth LLC bought a new position in The Hartford Insurance Group during the 1st quarter worth approximately $207,000. NewEdge Advisors LLC lifted its holdings in The Hartford Insurance Group by 1.6% during the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider's stock worth $7,122,000 after buying an additional 886 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in The Hartford Insurance Group by 3.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider's stock worth $21,297,000 after buying an additional 6,285 shares during the last quarter. HUB Investment Partners LLC raised its position in shares of The Hartford Insurance Group by 9.8% during the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider's stock worth $878,000 after purchasing an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of The Hartford Insurance Group by 25.5% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider's stock worth $24,488,000 after purchasing an additional 39,220 shares during the period. Institutional investors own 93.42% of the company's stock.

Insider Transactions at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $3,505,365.60. This represents a 61.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

HIG has been the topic of a number of research reports. Wells Fargo & Company increased their price target 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. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $149.00 price target (down from $163.00) on shares of The Hartford Insurance Group in a research report on Monday, March 30th. Bank of America increased their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 14th. Roth Mkm increased their price target on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. Finally, Mizuho increased their price target on The Hartford Insurance Group from $158.00 to $159.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $149.31.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $136.15 on Friday. The Hartford Insurance Group, Inc. has a 12-month low of $119.61 and a 12-month high of $144.50. The firm has a market capitalization of $37.32 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 2.45 and a beta of 0.50. The business has a 50 day simple moving average of $135.68 and a 200 day simple moving average of $135.85. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued 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 return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period last year, the company earned $2.20 earnings per share. The business's quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 13.14 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group's dividend payout ratio is 16.87%.

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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