The Hartford Insurance Group, Inc. $HIG Stock: Pictet Asset Management Holding SA Decreases Position

Pictet Asset Management Holding SA cut its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 10.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 288,976 shares of the insurance provider’s stock after selling 32,554 shares during the period. Pictet Asset Management Holding SA owned approximately 0.11% of The Hartford Insurance Group worth $35,364,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HIG. AlphaCentric Advisors LLC raised its holdings in shares of The Hartford Insurance Group by 104.3% during the 3rd quarter. AlphaCentric Advisors LLC now owns 2,088 shares of the insurance provider’s stock worth $255,000 after acquiring an additional 1,066 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of The Hartford Insurance Group by 3.2% during the 3rd quarter. Parallel Advisors LLC now owns 16,808 shares of the insurance provider’s stock valued at $2,057,000 after acquiring an additional 524 shares during the last quarter. Abacus Wealth Partners LLC grew its holdings in shares of The Hartford Insurance Group by 1.4% in the third quarter. Abacus Wealth Partners LLC now owns 5,846 shares of the insurance provider’s stock valued at $715,000 after purchasing an additional 82 shares in the last quarter. Guidance Capital Inc. grew its holdings in shares of The Hartford Insurance Group by 3.9% in the third quarter. Guidance Capital Inc. now owns 10,369 shares of the insurance provider’s stock valued at $1,405,000 after purchasing an additional 389 shares in the last quarter. Finally, May Hill Capital LLC purchased a new position in shares of The Hartford Insurance Group in the third quarter valued at $264,000. 93.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. UBS Group lowered their price objective on shares of The Hartford Insurance Group from $155.00 to $149.00 and set a “buy” rating for the company in a research report on Tuesday, October 6th. JPMorgan Chase & Co. lifted their price objective on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Cantor Fitzgerald dropped their price objective on shares of The Hartford Insurance Group from $145.00 to $136.00 and set an “overweight” rating for the company in a research note on Monday, November 2nd. Finally, Truist Financial began coverage on shares of The Hartford Insurance Group in a report on Monday, October 12th. They issued a “hold” rating and a $137.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Hold” and a consensus price target of $144.69.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Costello sold 31,597 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $135.75, for a total value of $4,289,292.75. Following the transaction, the chief financial officer owned 82,988 shares of the company’s stock, valued at $11,265,621. This represents a 27.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.

The Hartford Insurance Group Stock Up 2.2%

Shares of NYSE HIG opened at $137.81 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $36.85 billion, a P/E ratio of 8.34, a PEG ratio of 1.90 and a beta of 0.48. The Hartford Insurance Group, Inc. has a 1 year low of $120.42 and a 1 year high of $146.07. The firm has a 50-day simple moving average of $132.67 and a two-hundred day simple moving average of $135.56.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Monday, October 26th. The insurance provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.17 by $0.33. The Hartford Insurance Group had a return on equity of 20.93% and a net margin of 15.85%. The business had revenue of $7.22 billion during the quarter, compared to analyst estimates of $7.37 billion. During the same quarter in the previous year, the business earned $3.78 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts anticipate that The Hartford Insurance Group, Inc. will post 13.34 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.60. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 14.53%.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc., known as The Hartford, is a U.S.-based insurance company founded in 1810 and headquartered in Hartford, Connecticut. It provides property and casualty insurance and employee benefits to businesses, organizations and individuals. Its commercial insurance offerings include coverage such as workers’ compensation, general liability, commercial auto and property insurance. The company also provides group benefits, including life, disability and leave-management products, along with personal auto and homeowners insurance, which it offers through arrangements including its relationship with AARP.