Assenagon Asset Management S.A. Decreases Stock Position in The Hartford Insurance Group, Inc. $HIG

Assenagon Asset Management S.A. trimmed its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 64.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,432 shares of the insurance provider’s stock after selling 201,752 shares during the quarter. Assenagon Asset Management S.A.’s holdings in The Hartford Insurance Group were worth $15,218,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of The Hartford Insurance Group during the first quarter worth about $207,000. Jefferies Financial Group Inc. acquired a new stake in The Hartford Insurance Group in the second quarter valued at approximately $1,559,000. XTX Topco Ltd raised its holdings in The Hartford Insurance Group by 90.8% in the second quarter. XTX Topco Ltd now owns 15,894 shares of the insurance provider’s stock valued at $2,016,000 after acquiring an additional 7,563 shares in the last quarter. Laurel Wealth Advisors LLC lifted its stake in The Hartford Insurance Group by 12,587.0% in the second quarter. Laurel Wealth Advisors LLC now owns 115,579 shares of the insurance provider’s stock worth $14,664,000 after acquiring an additional 114,668 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in The Hartford Insurance Group by 48.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 25,832 shares of the insurance provider’s stock worth $3,277,000 after acquiring an additional 8,377 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $134.79 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a twelve month low of $107.49 and a twelve month high of $144.50. The stock has a 50 day moving average of $136.84 and a two-hundred day moving average of $133.95. The stock has a market cap of $37.18 billion, a P/E ratio of 10.10, a P/E/G ratio of 1.30 and a beta of 0.60.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the firm posted $2.94 earnings per share. On average, research analysts forecast 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, April 2nd. Investors of record on Monday, March 2nd will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is currently 17.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Piper Sandler increased their price objective on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Weiss Ratings upgraded shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, February 13th. Wells Fargo & Company increased their target price on The Hartford Insurance Group from $153.00 to $156.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Cantor Fitzgerald raised their price target on The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Finally, Mizuho began coverage on The Hartford Insurance Group in a report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $148.13.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CEO Christopher Swift sold 201,938 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the transaction, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at approximately $26,574,986.97. This trade represents a 50.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the transaction, the executive vice president owned 25,392 shares in the company, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 384,621 shares of company stock valued at $53,010,925. Insiders own 1.50% of the company’s stock.

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.