Candriam S.C.A. Increases Stake in The Hartford Insurance Group, Inc. $HIG

Candriam S.C.A. boosted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 19.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,299 shares of the insurance provider’s stock after purchasing an additional 7,429 shares during the quarter. Candriam S.C.A.’s holdings in The Hartford Insurance Group were worth $5,874,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of HIG. Woodline Partners LP grew its holdings in shares of The Hartford Insurance Group by 28,218.5% during the 1st quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock worth $93,763,000 after purchasing an additional 755,128 shares during the period. Nuveen LLC acquired a new position in The Hartford Insurance Group during the first quarter valued at approximately $87,516,000. Bahl & Gaynor Inc. grew 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 buying an additional 684,390 shares during the period. Amundi increased its position in shares of The Hartford Insurance Group by 27.4% in the first quarter. Amundi now owns 1,943,498 shares of the insurance provider’s stock worth $239,905,000 after acquiring an additional 417,951 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of The Hartford Insurance Group by 38.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,493,077 shares of the insurance provider’s stock valued at $189,427,000 after acquiring an additional 414,216 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Activity at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the sale, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,252,344. This represents a 29.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale is available in the SEC filing. 1.50% of the stock is currently owned by company insiders.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $133.90 on Friday. The firm has a market cap of $37.31 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.19 and a beta of 0.69. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $129.47 and its two-hundred day moving average is $128.00. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $135.27.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the firm earned $2.53 EPS. The company’s revenue was up 7.1% on a year-over-year basis. Analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio (DPR) is 19.61%.

Analyst Ratings Changes

A number of brokerages recently weighed in on HIG. Cantor Fitzgerald initiated coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price target for the company. Citigroup began coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 target price for the company. Piper Sandler raised their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Morgan Stanley boosted their price target on The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, The Hartford Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.14.

The Hartford Insurance Group Profile

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.