Pacer Advisors Inc. Sells 14,631 Shares of The Hartford Insurance Group, Inc. $HIG

Pacer Advisors Inc. cut its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 41.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,565 shares of the insurance provider’s stock after selling 14,631 shares during the period. Pacer Advisors Inc.’s holdings in The Hartford Insurance Group were worth $2,781,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HIG. DV Trading LLC bought a new position in The Hartford Insurance Group during the first quarter worth about $243,000. Parallel Advisors LLC raised its stake in The Hartford Insurance Group by 4.2% in the first quarter. Parallel Advisors LLC now owns 17,156 shares of the insurance provider’s stock valued at $2,320,000 after buying an additional 690 shares during the period. NewEdge Advisors LLC raised its stake in The Hartford Insurance Group by 6.2% in the first quarter. NewEdge Advisors LLC now owns 408,818 shares of the insurance provider’s stock valued at $55,285,000 after buying an additional 23,730 shares during the period. Bank of America Corp DE lifted its position in shares of The Hartford Insurance Group by 2.1% in the first quarter. Bank of America Corp DE now owns 3,831,622 shares of the insurance provider’s stock valued at $518,150,000 after buying an additional 79,827 shares during the last quarter. Finally, Kentucky Retirement Systems lifted its position in shares of The Hartford Insurance Group by 109.3% in the first quarter. Kentucky Retirement Systems now owns 36,912 shares of the insurance provider’s stock valued at $4,992,000 after buying an additional 19,276 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group 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 completion of the sale, the president owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HIG has been the topic of a number of recent analyst reports. UBS Group decreased their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. JPMorgan Chase & Co. raised their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Mizuho lifted their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $149.67.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock opened at $144.32 on Friday. The Hartford Insurance Group, Inc. has a 12 month low of $120.33 and a 12 month high of $146.07. The stock’s 50 day moving average is $135.32 and its 200-day moving average is $136.06. 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 $39.09 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 3.52 and a beta of 0.46.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.41 earnings per share. Equities research analysts expect that The Hartford Insurance Group, Inc. will post 12.84 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

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

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.