The Hartford Insurance Group, Inc. $HIG Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 64.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its holdings in The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after buying an additional 184 shares in the last quarter. JPL Wealth Management LLC purchased a new position in shares of The Hartford Insurance Group during the 3rd quarter worth $26,000. Princeton Global Asset Management LLC acquired a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at about $27,000. United Financial Planning Group LLC acquired a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at about $29,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of The Hartford Insurance Group in the third quarter valued at about $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lori A. Rodden sold 40,693 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 25,392 shares in the company, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 384,621 shares of company stock valued at $53,010,925. 1.50% of the stock is currently owned by company insiders.

The Hartford Insurance Group Price Performance

HIG stock opened at $134.79 on Friday. The business’s fifty day moving average price is $136.84 and its 200 day moving average price is $133.95. The Hartford Insurance Group, Inc. has a 12-month low of $107.49 and a 12-month high of $144.50. 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 company has a market capitalization of $37.18 billion, a PE 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 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The Hartford Insurance Group’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the business posted $2.94 EPS. On average, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio is currently 17.99%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. increased their price target on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Morgan Stanley raised their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Evercore lifted their price target on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a research report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price objective on The Hartford Insurance Group from $160.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Two investment 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.13.

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.