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

LSV Asset Management lowered its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 8.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 investment portfolio, making the stock its 19th largest position. LSV Asset Management owned 1.15% of The Hartford Insurance Group worth $427,143,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HIG. Cibc World Market Inc. boosted its holdings in shares of The Hartford Insurance Group by 0.8% during the 3rd quarter. Cibc World Market Inc. now owns 34,222 shares of the insurance provider’s stock valued at $4,565,000 after acquiring an additional 268 shares in the last quarter. Caprock Group LLC acquired a new position in The Hartford Insurance Group in the 3rd quarter worth about $5,682,000. Rhumbline Advisers raised its position in The Hartford Insurance Group by 0.4% in the third quarter. Rhumbline Advisers now owns 585,082 shares of the insurance provider’s stock valued at $78,044,000 after purchasing an additional 2,613 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of The Hartford Insurance Group by 15.0% during the third quarter. Advisors Asset Management Inc. now owns 29,716 shares of the insurance provider’s stock worth $3,964,000 after purchasing an additional 3,884 shares during the last quarter. Finally, ABC Arbitrage SA bought a new stake in shares of The Hartford Insurance Group during the third quarter worth about $3,656,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $141.92 on Thursday. The business has a 50-day simple moving average of $135.49 and a 200 day simple moving average of $132.18. The Hartford Insurance Group, Inc. has a one year low of $107.49 and a one year high of $144.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.32. The firm has a market capitalization of $39.54 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 1.09 and a beta of 0.61.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data 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 Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The firm had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter last year, the firm posted $2.94 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Christopher Swift sold 100,970 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total value of $14,214,556.60. Following the transaction, the chief executive officer owned 194,817 shares of the company’s stock, valued at approximately $27,426,337.26. This trade represents a 34.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $10,595,056.92. This represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 338,247 shares of company stock valued at $46,587,520 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HIG has been the topic of several recent research reports. Argus lifted their target price on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada assumed coverage on shares of The Hartford Insurance Group in a report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price target on the stock. Piper Sandler boosted their price objective on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. Wall Street Zen lowered The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Wells Fargo & Company lifted their target price on The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.13.

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.