Kepler Cheuvreux Suisse SA Lowers Position in The Hartford Insurance Group, Inc. $HIG

Kepler Cheuvreux Suisse SA decreased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 33.7% in the first quarter, Holdings Channel.com reports. The fund owned 86,433 shares of the insurance provider’s stock after selling 43,842 shares during the period. Kepler Cheuvreux Suisse SA’s holdings in The Hartford Insurance Group were worth $11,688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. First Pacific Financial purchased a new stake in The Hartford Insurance Group in the 1st quarter worth $26,000. JPL Wealth Management LLC purchased a new position in shares of The Hartford Insurance Group during the third quarter valued at about $26,000. United Financial Planning Group LLC bought a new stake in shares of The Hartford Insurance Group in the third quarter worth about $29,000. Sunbelt Securities Inc. bought a new stake in shares of The Hartford Insurance Group in the third quarter worth about $29,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its position in shares of The Hartford Insurance Group by 144.8% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after buying an additional 152 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Stock Down 0.2%

Shares of NYSE:HIG opened at $137.52 on Friday. The company has a 50-day moving average price of $132.49 and a 200 day moving average price of $135.45. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. The company has a market cap of $37.70 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 2.53 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data 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 company had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $2.20 earnings per share. As a group, equities research analysts predict that The Hartford Insurance Group, Inc. will post 12.9 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s payout ratio is currently 16.87%.

Insiders Place Their Bets

In related news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction 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 sale, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on HIG. Barclays cut their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Piper Sandler decreased their price objective on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a report on Thursday, June 11th. UBS Group lowered their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Finally, Cantor Fitzgerald reduced their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and a consensus price target of $147.31.

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.