Allianz Asset Management GmbH Reduces Stock Position in The Hartford Insurance Group, Inc. (NYSE:HIG)

Allianz Asset Management GmbH cut its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 585,915 shares of the insurance provider's stock after selling 223,496 shares during the quarter. Allianz Asset Management GmbH owned about 0.21% of The Hartford Insurance Group worth $72,495,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Park Square Financial Group LLC lifted its stake in shares of The Hartford Insurance Group by 146.2% in the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after buying an additional 155 shares in the last quarter. Spurstone Advisory Services LLC bought a new position in shares of The Hartford Insurance Group in the fourth quarter valued at $33,000. Center for Financial Planning Inc. bought a new position in shares of The Hartford Insurance Group in the first quarter valued at $33,000. Itau Unibanco Holding S.A. bought a new position in shares of The Hartford Insurance Group in the fourth quarter valued at $35,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of The Hartford Insurance Group during the first quarter valued at about $37,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HIG. UBS Group raised their price target on shares of The Hartford Insurance Group from $142.00 to $145.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price objective on shares of The Hartford Insurance Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Jefferies Financial Group lowered their price objective on shares of The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Barclays lowered their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research report on Monday, July 7th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of The Hartford Insurance Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, The Hartford Insurance Group has an average rating of "Moderate Buy" and an average target price of $133.67.

The Hartford Insurance Group Trading Up 0.2%

Shares of The Hartford Insurance Group stock traded up $0.29 during trading on Thursday, reaching $123.52. The company's stock had a trading volume of 746,165 shares, compared to its average volume of 1,664,970. The Hartford Insurance Group, Inc. has a 52-week low of $102.16 and a 52-week high of $132.09. The company has a market cap of $35.09 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.29 and a beta of 0.69. The firm's 50-day moving average is $125.98 and its two-hundred day moving average is $119.88. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.26.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.05. The Hartford Insurance Group had a net margin of 11.10% and a return on equity of 18.73%. The company had revenue of $6.81 billion during the quarter, compared to analysts' expectations of $6.97 billion. During the same quarter in the prior year, the company earned $2.34 EPS. The firm's revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.68%. The Hartford Insurance Group's dividend payout ratio (DPR) is 20.74%.

Insider Activity

In other news, SVP Allison G. Niderno sold 1,086 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the completion of the sale, the senior vice president owned 622 shares of the company's stock, valued at approximately $74,279.24. This represents a 63.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company's stock.

About The Hartford Insurance Group

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.