Candriam S.C.A. cut its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG – Free Report) by 8.2% during the 1st quarter, Holdings Channel reports. The firm owned 44,127 shares of the insurance provider’s stock after selling 3,946 shares during the period. Candriam S.C.A.’s holdings in The Hartford Insurance Group were worth $5,967,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in HIG. Northwestern Mutual Wealth Management Co. lifted its stake in The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after buying an additional 73,835,976 shares in the last quarter. Norges Bank purchased a new position in The Hartford Insurance Group in the fourth quarter valued at about $611,724,000. Allianz Asset Management GmbH increased its holdings in The Hartford Insurance Group by 131.1% in the fourth quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider’s stock worth $224,901,000 after buying an additional 925,789 shares during the last quarter. Danske Bank A S bought a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at $91,398,000. Finally, Balyasny Asset Management L.P. lifted its stake in shares of The Hartford Insurance Group by 6,431.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock valued at $85,829,000 after purchasing an additional 633,592 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.
The Hartford Insurance Group Stock Up 1.4%
The Hartford Insurance Group (NYSE:HIG – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the previous year, the business earned $2.20 EPS. The Hartford Insurance Group’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.
The Hartford Insurance Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 1st were paid a $0.60 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s payout ratio is 16.87%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on HIG. UBS Group dropped their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Mizuho boosted their target price on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Bank of America increased their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Finally, Barclays dropped their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $148.50.
Get Our Latest Stock Analysis on HIG
The Hartford Insurance Group Profile
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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