Intech Investment Management LLC Sells 10,747 Shares of The Hartford Insurance Group, Inc. $HIG

Intech Investment Management LLC trimmed its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 25.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,098 shares of the insurance provider’s stock after selling 10,747 shares during the period. Intech Investment Management LLC’s holdings in The Hartford Insurance Group were worth $4,285,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its holdings in The Hartford Insurance Group by 24.9% during the third quarter. Allianz Asset Management GmbH now owns 706,293 shares of the insurance provider’s stock valued at $94,212,000 after purchasing an additional 140,624 shares in the last quarter. Canada Post Corp Registered Pension Plan boosted its holdings in The Hartford Insurance Group by 252.7% during the third quarter. Canada Post Corp Registered Pension Plan now owns 24,540 shares of the insurance provider’s stock valued at $3,245,000 after purchasing an additional 17,582 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in The Hartford Insurance Group by 109.2% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,174 shares of the insurance provider’s stock valued at $3,358,000 after purchasing an additional 13,138 shares in the last quarter. Raiffeisen Bank International AG boosted its holdings in The Hartford Insurance Group by 102.0% during the third quarter. Raiffeisen Bank International AG now owns 20,709 shares of the insurance provider’s stock valued at $2,739,000 after purchasing an additional 10,455 shares in the last quarter. Finally, National Pension Service boosted its holdings in The Hartford Insurance Group by 6.7% during the third quarter. National Pension Service now owns 509,580 shares of the insurance provider’s stock valued at $67,973,000 after purchasing an additional 31,912 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on HIG. Wells Fargo & Company lifted their price objective on The Hartford Insurance Group from $156.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a report on Monday, March 30th. Cantor Fitzgerald decreased their price objective on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Bank of America lifted their price objective on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Finally, Morgan Stanley lifted their price objective 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. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $149.31.

Insider Activity at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 40,693 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the transaction, the executive vice president owned 25,392 shares in the company, valued at $3,505,365.60. The trade was a 61.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the transaction, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Stock Down 0.4%

Shares of HIG opened at $126.67 on Tuesday. The company has a market capitalization of $34.72 billion, a P/E ratio of 8.90, a PEG ratio of 2.28 and a beta of 0.47. 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 one year low of $119.61 and a one year high of $144.50. The business’s 50 day simple moving average is $135.38 and its 200-day simple moving average is $136.00.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the firm earned $2.20 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s payout ratio is 16.87%.

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.