64,793 Shares in The Hartford Insurance Group, Inc. $HIG Acquired by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in The Hartford Insurance Group, buying 64,793 shares valued at about $8.93 million in the fourth quarter.
• The Hartford recently reported Q1 earnings of $3.09 per share, missing analyst expectations of $3.39, while revenue of $7.23 billion also came in below estimates.
• The company declared a quarterly dividend of $0.60 per share, payable July 2, which implies an annualized yield of about 1.9%.

Eurizon Capital SGR S.p.A. acquired a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 64,793 shares of the insurance provider's stock, valued at approximately $8,933,000.

A number of other institutional investors have also added to or reduced their stakes in HIG. Northwestern Mutual Wealth Management Co. increased its position in The Hartford Insurance Group by 286,241.4% during the 4th 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. Danske Bank A S bought a new stake in The Hartford Insurance Group during the 3rd quarter worth approximately $91,398,000. Balyasny Asset Management L.P. grew its holdings in The Hartford Insurance Group by 6,431.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider's stock worth $85,829,000 after acquiring an additional 633,592 shares during the last quarter. Zurich Insurance Group Ltd FI grew its holdings in The Hartford Insurance Group by 208.2% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 799,973 shares of the insurance provider's stock worth $106,708,000 after acquiring an additional 540,445 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock worth $711,141,000 after acquiring an additional 496,821 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Performance

HIG opened at $127.29 on Monday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company's fifty day moving average price is $135.47 and its two-hundred day moving average price is $136.04. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50. The company has a market cap of $34.89 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 2.28 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released 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 business had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. On average, analysts expect that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be given a dividend of $0.60 per share. The ex-dividend date is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.9%. The Hartford Insurance Group's dividend payout ratio is presently 16.87%.

Insider Activity

In related news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the transaction, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the transaction, the executive vice president owned 25,392 shares of the company's stock, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their position. The SEC filing for this sale provides additional information. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HIG shares. Mizuho boosted their target price on shares of The Hartford Insurance Group from $158.00 to $159.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. Barclays reduced their price objective on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating on the stock in a research note on Friday, April 24th. Bank of America upped their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, April 14th. Morgan Stanley upped their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 3rd. Finally, Wells Fargo & Company upped their price objective on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $149.31.

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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