This is normal trading action............ignore it, capitalize on it or sell.
An average 50% Fibonacci retracement from the high to the low of the surge is to be expected. Can be more or less by the according percentages and almost always dictated by the MM's. Actually allows bigger players to average into positions long at a better cost. You can witness this both on a daily interval or from multi day or week stretches.
If you feel this is a POS, then don't worry or fret about HIG, sell and remove the burden. IMO, some positive action is coming together in the multiple sales of some of their divisions, to allow a more direct focus upon the P/C division. Perhaps that can even be eventually bought by Travelers or the like....or not.
Either way, these actions take time and patience along the journey, with more to follow. There are reasons this trades at the discount to book. Progress is being made. albeit slow and irregular.
It is what it is, for now.
The sale of the life compamy could actually end up hurting HIG. Remember. They're sellin the sales and service division. NOT the investment portfolio which has been dragging them down. That portfolio is tied to annuities. And it will be staying put. Hopefully, whatever they get from the sale wi offset future losses. But the big elephant in the room is the fact that the net profitable portion of the life company was over 100 million per year. So HIG will remove that profit and (hope) to make it up by increasing P&C business.