UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 401,144 Shares of The Hartford Insurance Group, Inc. $HIG

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 9.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,993,187 shares of the insurance provider’s stock after selling 401,144 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in The Hartford Insurance Group were worth $529,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HIG. New Mexico Educational Retirement Board grew its holdings in The Hartford Insurance Group by 7.8% in the 2nd quarter. New Mexico Educational Retirement Board now owns 13,891 shares of the insurance provider’s stock valued at $1,841,000 after buying an additional 1,000 shares in the last quarter. Mufg Securities Americas Inc. lifted its holdings in shares of The Hartford Insurance Group by 7.0% during the second quarter. Mufg Securities Americas Inc. now owns 8,257 shares of the insurance provider’s stock worth $1,094,000 after buying an additional 540 shares in the last quarter. Nissay Asset Management Corp Japan boosted its position in shares of The Hartford Insurance Group by 2.7% in the second quarter. Nissay Asset Management Corp Japan now owns 36,874 shares of the insurance provider’s stock valued at $4,887,000 after acquiring an additional 957 shares during the period. Kingsview Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $4,193,000. Finally, Beacon Pointe Advisors LLC acquired a new position in shares of The Hartford Insurance Group in the second quarter valued at about $772,000. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Trading Down 0.0%

HIG opened at $138.51 on Monday. The stock has a market capitalization of $37.52 billion, a price-to-earnings ratio of 8.95, a P/E/G ratio of 3.40 and a beta of 0.46. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07. The company has a 50-day simple moving average of $138.49 and a 200 day simple moving average of $136.56.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.16 by $0.26. The firm had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $3.41 EPS. Analysts predict that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 15.51%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $146.00 price target (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods increased their target price on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Barclays lowered their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, June 12th. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, Zacks Research upgraded The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Seven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Hold” and a consensus price target of $149.67.

The Hartford Insurance Group Company 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.