The Hartford Insurance Group, Inc. $HIG Shares Sold by AlphaQuest LLC

AlphaQuest LLC reduced its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 52.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,456 shares of the insurance provider’s stock after selling 16,815 shares during the period. AlphaQuest LLC’s holdings in The Hartford Insurance Group were worth $2,130,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position in The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after acquiring an additional 73,835,976 shares in the last quarter. State Street Corp increased its holdings in The Hartford Insurance Group by 0.4% during the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after purchasing an additional 55,983 shares during the last quarter. Invesco Ltd. increased its holdings in The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after purchasing an additional 496,821 shares during the last quarter. Nordea Investment Management AB increased its holdings in The Hartford Insurance Group by 1.9% during the 4th quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider’s stock worth $606,956,000 after purchasing an additional 81,712 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in The Hartford Insurance Group by 3.3% during the 3rd quarter. Franklin Resources Inc. now owns 3,376,931 shares of the insurance provider’s stock worth $450,449,000 after purchasing an additional 108,765 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $135.45 on Wednesday. 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, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. The stock has a fifty day moving average price of $135.77 and a 200 day moving average price of $136.04. The company has a market cap of $37.13 billion, a P/E ratio of 9.52, a PEG ratio of 2.45 and a beta of 0.50.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the firm posted $2.20 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, research analysts forecast that The Hartford Insurance Group, Inc. will post 13.14 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HIG. Wells Fargo & Company lifted their price objective on The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. UBS Group lowered their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a report on Monday, April 27th. Weiss Ratings reiterated a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Wednesday, May 13th. Citigroup boosted their price target on The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Finally, Morgan Stanley boosted their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.31.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was 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. The trade was a 61.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

About The Hartford Insurance Group

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.