LSV Asset Management Sells 285,850 Shares of The Hartford Insurance Group, Inc. $HIG

LSV Asset Management cut its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 8.2% during the 3rd quarter, Holdings Channel reports. The firm owned 3,202,212 shares of the insurance provider’s stock after selling 285,850 shares during the quarter. The Hartford Insurance Group makes up approximately 0.9% of LSV Asset Management’s holdings, making the stock its 19th largest holding. LSV Asset Management’s holdings in The Hartford Insurance Group were worth $427,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC bought a new position in shares of The Hartford Insurance Group in the third quarter valued at approximately $27,000. Cornerstone Planning Group LLC boosted its position in The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 184 shares during the last quarter. Private Wealth Management Group LLC grew its stake in The Hartford Insurance Group by 151.1% in the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 133 shares during the period. Vermillion & White Wealth Management Group LLC increased its position in shares of The Hartford Insurance Group by 72.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 99 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of The Hartford Insurance Group during the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HIG shares. Citigroup increased their price target on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Piper Sandler boosted their target price on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. 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 research note on Tuesday, February 3rd. Argus lifted their price target on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Finally, Roth Mkm increased their price objective on The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $148.13.

The Hartford Insurance Group Stock Up 0.2%

HIG stock opened at $141.92 on Thursday. The company’s 50 day moving average is $135.49 and its 200 day moving average is $132.18. The stock has a market cap of $39.54 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.09 and a beta of 0.61. The company has a current ratio of 0.31, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a 1-year low of $107.49 and a 1-year high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The firm had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the prior year, the firm earned $2.94 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Swift sold 201,938 shares of The Hartford Insurance Group stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the transaction, the chief executive officer directly owned 194,817 shares in the company, valued at $26,574,986.97. This trade represents a 50.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 338,247 shares of company stock valued at $46,587,520 over the last quarter. Company insiders own 1.50% of the company’s stock.

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.