Nuveen LLC Acquires New Position in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Nuveen LLC acquired a new stake in The Hartford Insurance Group, purchasing 707,313 shares valued at approximately $87.5 million, representing about 0.25% of the company.
• Wall Street analysts have shown a positive outlook for the stock, with multiple upgrades and price target increases, resulting in a consensus rating of "Moderate Buy" and an average target price of $136.42.
• The Hartford announced a quarterly dividend of $0.52 per share, payable on October 2nd, reflecting an annualized yield of 1.6% and a dividend payout ratio of 18.86%.

Nuveen LLC bought a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 707,313 shares of the insurance provider's stock, valued at approximately $87,516,000. Nuveen LLC owned about 0.25% of The Hartford Insurance Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HIG. Scotia Capital Inc. acquired a new position in shares of The Hartford Insurance Group during the 4th quarter worth approximately $509,000. Synovus Financial Corp raised its position in shares of The Hartford Insurance Group by 5.2% during the 4th quarter. Synovus Financial Corp now owns 10,552 shares of the insurance provider's stock valued at $1,154,000 after buying an additional 523 shares during the period. Mariner LLC raised its position in shares of The Hartford Insurance Group by 1.5% during the 4th quarter. Mariner LLC now owns 53,611 shares of the insurance provider's stock valued at $5,865,000 after buying an additional 810 shares during the period. CreativeOne Wealth LLC raised its position in shares of The Hartford Insurance Group by 3.7% during the 4th quarter. CreativeOne Wealth LLC now owns 11,767 shares of the insurance provider's stock valued at $1,287,000 after buying an additional 424 shares during the period. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of The Hartford Insurance Group during the 4th quarter valued at approximately $761,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Down 0.5%

Shares of The Hartford Insurance Group stock traded down $0.60 during trading hours on Friday, reaching $130.74. 2,700,466 shares of the company were exchanged, compared to its average volume of 1,471,675. The firm has a market cap of $36.76 billion, a PE ratio of 11.85, a PEG ratio of 1.27 and a beta of 0.67. The stock's fifty day moving average is $124.94 and its 200 day moving average is $121.82. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $132.09.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion for 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 revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.50 earnings per share. As a group, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the transaction, the chief financial officer owned 77,574 shares of the company's stock, valued at $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HIG shares. UBS Group lifted their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Barclays reduced their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research report on Monday, July 7th. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Finally, Cantor Fitzgerald initiated coverage on The Hartford Insurance Group in a research report on Wednesday. They issued an "overweight" rating and a $152.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $137.64.

The Hartford Insurance Group Company 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.