11,241 Shares in The Hartford Insurance Group, Inc. $HIG Bought by Osmosis Investment Management UK Ltd

Key Points

• Osmosis Investment Management UK acquired 11,241 shares of The Hartford Insurance Group in the second quarter, valued at approximately $1.49 million. Institutional investors collectively own 93.42% of HIG’s outstanding stock.
• The Hartford exceeded quarterly expectations, reporting $3.42 in EPS on $7.26 billion in revenue, with revenue rising 8.1% year over year. Shares opened at $139.03, within a 12-month range of $120.33 to $146.07.
• The company declared a quarterly dividend of $0.60, equal to $2.40 annually and a 1.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $149.67.

Osmosis Investment Management UK Ltd acquired a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,241 shares of the insurance provider's stock, valued at approximately $1,490,000.

Several other institutional investors also recently modified their holdings of HIG. Northwestern Mutual Wealth Management Co. raised its position in The Hartford Insurance Group by 286,241.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider's stock worth $10,178,152,000 after purchasing an additional 73,835,976 shares in the last quarter. BlackRock Inc. bought a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at approximately $4,067,052,000. State Street Corp grew its stake in shares of The Hartford Insurance Group by 0.4% in the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider's stock valued at $2,146,749,000 after purchasing an additional 55,983 shares during the period. Geode Capital Management LLC grew its holdings in shares of The Hartford Insurance Group by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider's stock worth $1,091,440,000 after purchasing an additional 34,274 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of The Hartford Insurance Group by 10.3% in the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock worth $711,141,000 after purchasing an additional 496,821 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $139.03 on Tuesday. The stock's fifty day simple moving average is $137.75 and its 200 day simple moving average is $136.64. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $37.66 billion, a PE ratio of 8.99, a PEG ratio of 3.34 and a beta of 0.46. The Hartford Insurance Group, Inc. has a 12 month low of $120.33 and a 12 month high of $146.07.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to analysts' expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The company's revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.41 earnings per share. On average, research analysts predict that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group's dividend payout ratio (DPR) is 15.51%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HIG. JPMorgan Chase & Co. raised their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Barclays reduced their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a research report on Friday, June 12th. Zacks Research cut shares of The Hartford Insurance Group from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. Wells Fargo & Company dropped their price objective on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, July 27th. Finally, Weiss Ratings cut The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, The Hartford Insurance Group has a consensus rating of "Hold" and an average price target of $149.67.

Insider Activity

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president owned 38,208 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Company 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.

Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source