The Hartford Insurance Group, Inc. (NYSE:HIG) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank has reduced its stake in The Hartford Insurance Group by 2.1%, selling 7,319 shares and now owning approximately 0.12% of the company worth $42.5 million.
• The Hartford reported $2.20 earnings per share for its latest quarter, exceeding analysts' expectations, while its revenue grew by 6.1% year-over-year.
• The company declared a quarterly dividend of $0.52 per share to be paid on October 2nd, resulting in an annualized yield of 1.69%.

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 343,707 shares of the insurance provider's stock after selling 7,319 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.12% of The Hartford Insurance Group worth $42,527,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of The Hartford Insurance Group by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 7,251,389 shares of the insurance provider's stock valued at $792,796,000 after purchasing an additional 81,495 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in The Hartford Insurance Group by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider's stock worth $419,053,000 after buying an additional 234,320 shares during the period. Northern Trust Corp boosted its position in The Hartford Insurance Group by 17.2% during the 4th quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock worth $387,021,000 after buying an additional 519,717 shares during the period. Massachusetts Financial Services Co. MA boosted its position in The Hartford Insurance Group by 1.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider's stock worth $434,181,000 after buying an additional 60,116 shares during the period. Finally, First Trust Advisors LP boosted its position in The Hartford Insurance Group by 15.1% during the 4th quarter. First Trust Advisors LP now owns 2,683,531 shares of the insurance provider's stock worth $293,578,000 after buying an additional 352,282 shares during the period. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Price Performance

Shares of HIG traded up $3.47 during trading hours on Tuesday, hitting $124.71. 2,734,423 shares of the stock were exchanged, compared to its average volume of 1,677,975. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a 12-month low of $103.96 and a 12-month high of $132.09. The company has a market cap of $35.43 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.29 and a beta of 0.69. The stock's 50-day moving average price is $125.50 and its two-hundred day moving average price is $120.34.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 18.73% and a net margin of 11.10%. The business had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. During the same period in the prior year, the business posted $2.50 EPS. The company's revenue was up 7.7% compared to the same quarter last year. Research analysts expect 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 declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is currently 20.74%.

Analysts Set New Price Targets

HIG has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on The Hartford Insurance Group from $115.00 to $130.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Piper Sandler lifted their price target on shares of The Hartford Insurance Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Raymond James Financial lifted their target price on The Hartford Insurance Group from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Barclays reduced their target price on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Finally, UBS Group increased 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. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $134.75.

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.