Zions Bancorporation National Association UT Acquires Shares of 16,561 The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Zions Bancorporation National Association UT bought 16,561 shares of The Hartford Insurance Group, Inc. (NYSE:HIG) valued at approximately $2,049,000.
• Institutional investors currently own 93.42% of The Hartford's stock, indicating strong institutional interest.
• The Hartford announced a quarterly dividend of $0.52 per share, with an annualized yield of 1.6%, to be paid on October 2nd.

Zions Bancorporation National Association UT bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,561 shares of the insurance provider's stock, valued at approximately $2,049,000.

Other hedge funds also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of The Hartford Insurance Group by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider's stock valued at $419,053,000 after buying an additional 234,320 shares during the last quarter. Northern Trust Corp increased its stake in The Hartford Insurance Group by 17.2% in the 4th quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock worth $387,021,000 after acquiring an additional 519,717 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in The Hartford Insurance Group by 1.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider's stock worth $434,181,000 after acquiring an additional 60,116 shares during the last quarter. First Trust Advisors LP increased its position in shares of The Hartford Insurance Group by 15.1% during the 4th quarter. First Trust Advisors LP now owns 2,683,531 shares of the insurance provider's stock valued at $293,578,000 after purchasing an additional 352,282 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of The Hartford Insurance Group by 48.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock valued at $247,761,000 after purchasing an additional 735,170 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods lifted their target price on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Wells Fargo & Company boosted their price objective on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen upgraded The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and an average target price of $136.42.

The Hartford Insurance Group Trading Up 0.6%

Shares of HIG traded up $0.71 during mid-day trading on Tuesday, reaching $129.05. 927,559 shares of the company's stock traded hands, compared to its average volume of 1,660,093. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $36.28 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.26 and a beta of 0.67. The stock's 50-day moving average is $124.81 and its two-hundred day moving average is $121.41. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $132.09.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The firm had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%. The Hartford Insurance Group's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.50 earnings per share. Research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is currently 18.86%.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares of the company's stock, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company's stock.

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.