The Hartford Insurance Group, Inc. (NYSE:HIG) Shares Sold by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd significantly reduced its holdings in The Hartford Insurance Group, decreasing its position by 82.1% to a total of $794,000 after selling 29,412 shares.
• Analysts have a generally positive outlook on the company, with multiple firms raising their price targets; the average target price is $133.67 with a rating of "Moderate Buy."
• The Hartford Insurance Group announced a quarterly dividend of $0.52 per share, representing an annualized yield of 1.69% and a payout ratio of 20.74%.

Y Intercept Hong Kong Ltd lowered its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 82.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,416 shares of the insurance provider's stock after selling 29,412 shares during the period. Y Intercept Hong Kong Ltd's holdings in The Hartford Insurance Group were worth $794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its stake in The Hartford Insurance Group by 167.8% in the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock worth $39,000 after purchasing an additional 198 shares during the last quarter. Sharp Financial Services LLC bought a new stake in The Hartford Insurance Group in the first quarter worth about $260,000. Oppenheimer & Co. Inc. lifted its stake in The Hartford Insurance Group by 86.7% in the first quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock worth $533,000 after purchasing an additional 2,000 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in The Hartford Insurance Group in the first quarter worth about $233,000. Finally, Aurora Investment Counsel bought a new stake in The Hartford Insurance Group in the first quarter worth about $2,434,000. Institutional investors own 93.42% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on HIG. JPMorgan Chase & Co. raised 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 note on Tuesday, April 8th. Wells Fargo & Company lifted their price target on shares of The Hartford Insurance Group from $134.00 to $138.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. UBS Group lifted 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 note on Wednesday, July 9th. Barclays decreased their price target 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, Jefferies Financial Group decreased their price target on shares of The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $133.67.

The Hartford Insurance Group Stock Up 4.2%

NYSE:HIG traded up $5.04 during trading hours on Tuesday, reaching $126.28. The company's stock had a trading volume of 665,987 shares, compared to its average volume of 1,662,588. The company has a market capitalization of $35.87 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 1.29 and a beta of 0.69. 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 debt-to-equity ratio of 0.26, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50 day moving average price of $125.50 and a two-hundred day moving average price of $120.34.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The company had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a net margin of 11.10% and a return on equity of 18.73%. The Hartford Insurance Group's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. Equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is presently 20.74%.

The Hartford Insurance Group Company 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.