iA Global Asset Management Inc. trimmed its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 42.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 13,095 shares of the insurance provider's stock after selling 9,581 shares during the period. iA Global Asset Management Inc.'s holdings in The Hartford Insurance Group were worth $1,661,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in HIG. Woodline Partners LP grew its position in The Hartford Insurance Group by 28,218.5% in the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider's stock worth $93,763,000 after acquiring an additional 755,128 shares during the period. Nuveen LLC acquired a new position in The Hartford Insurance Group during the first quarter worth $87,516,000. Bahl & Gaynor Inc. lifted its stake in The Hartford Insurance Group by 47.0% during the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock worth $264,972,000 after purchasing an additional 684,390 shares in the last quarter. Amundi lifted its stake in The Hartford Insurance Group by 27.4% during the first quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock worth $239,905,000 after purchasing an additional 417,951 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in The Hartford Insurance Group by 38.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,493,077 shares of the insurance provider's stock worth $189,427,000 after purchasing an additional 414,216 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lori A. Rodden sold 7,841 shares of the firm's stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the sale, the executive vice president owned 18,400 shares in the company, valued at approximately $2,252,344. This represents a 29.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is owned by company insiders.
The Hartford Insurance Group Stock Up 0.1%
Shares of NYSE HIG opened at $124.31 on Tuesday. The stock has a market cap of $34.64 billion, a P/E ratio of 10.16, a PEG ratio of 1.19 and a beta of 0.69. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.17. The business's fifty day simple moving average is $129.84 and its 200-day simple moving average is $127.32.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The business had revenue of $7.23 billion for the quarter, compared to analysts' expectations of $7.17 billion. During the same period last year, the firm earned $2.53 earnings per share. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.
The Hartford Insurance Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be paid a $0.60 dividend. This is a boost from The Hartford Insurance Group's previous quarterly dividend of $0.52. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, December 1st. The Hartford Insurance Group's payout ratio is 19.61%.
Wall Street Analysts Forecast Growth
HIG has been the topic of a number of research reports. Piper Sandler upped their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. upped their price target on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a "neutral" rating in a research note on Thursday, October 9th. Barclays decreased their price target on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Citigroup initiated coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price target on the stock. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price objective (up from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $139.57.
The Hartford Insurance Group Company Profile
(Free Report)
The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.
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