The Hartford Insurance Group, Inc. $HIG Shares Sold by Pictet Asset Management Holding SA

by · The Cerbat Gem

Pictet Asset Management Holding SA lessened its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIGFree Report) by 3.1% during the fourth quarter, HoldingsChannel reports. The firm owned 407,288 shares of the insurance provider’s stock after selling 12,816 shares during the period. Pictet Asset Management Holding SA’s holdings in The Hartford Insurance Group were worth $56,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. UBS Group AG lifted its stake in shares of The Hartford Insurance Group by 8.2% during the fourth quarter. UBS Group AG now owns 1,332,113 shares of the insurance provider’s stock worth $183,565,000 after purchasing an additional 100,822 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of The Hartford Insurance Group by 12.5% during the fourth quarter. Sanctuary Advisors LLC now owns 39,758 shares of the insurance provider’s stock worth $5,479,000 after purchasing an additional 4,403 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich lifted its stake in shares of The Hartford Insurance Group by 100.7% during the fourth quarter. Munich Reinsurance Co Stock Corp in Munich now owns 39,399 shares of the insurance provider’s stock worth $5,470,000 after purchasing an additional 19,771 shares in the last quarter. Riverbend Wealth Management LLC lifted its stake in shares of The Hartford Insurance Group by 6.0% during the fourth quarter. Riverbend Wealth Management LLC now owns 2,299 shares of the insurance provider’s stock worth $317,000 after purchasing an additional 131 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of The Hartford Insurance Group by 95.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 11,719 shares of the insurance provider’s stock worth $1,615,000 after purchasing an additional 5,728 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Up 1.5%

NYSE:HIG opened at $138.83 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50-day simple moving average of $137.48 and a 200 day simple moving average of $134.88. The Hartford Insurance Group, Inc. has a one year low of $119.61 and a one year high of $144.50. The company has a market capitalization of $38.06 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 2.48 and a beta of 0.53.

The Hartford Insurance Group (NYSE:HIGGet Free Report) last released its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm had revenue of $14.45 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the prior year, the business earned $2.20 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 13.26 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.87%.

Insider Buying and Selling

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the 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 transaction, the executive vice president owned 25,392 shares of the company’s stock, valued at $3,505,365.60. This trade represents a 61.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher Swift sold 201,938 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total value of $27,546,362.58. Following the transaction, the chief executive officer directly owned 194,817 shares in the company, valued at approximately $26,574,986.97. This represents a 50.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 349,282 shares of company stock worth $48,184,324. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Mizuho boosted their price objective on The Hartford Insurance Group from $158.00 to $159.00 and gave the stock an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Barclays reduced their price objective on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Evercore lifted their target price on The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings raised The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.31.

Check Out Our Latest Stock Analysis on The Hartford Insurance Group

About The Hartford Insurance Group

(Free Report)

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.

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