Aberdeen Group plc Boosts Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• Aberdeen Group plc increased its stake in The Hartford Insurance Group by 11.5%, holding 282,965 shares worth approximately $35.9 million as of the end of the 2nd quarter.
• The Hartford reported earnings of $3.41 per share for the last quarter, exceeding estimates, with revenue up 7.7% year-over-year.
• The firm announced a quarterly dividend of $0.52 per share, with a dividend yield of 1.6%, reflecting a payout ratio of 18.86%.

Aberdeen Group plc grew its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 11.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 282,965 shares of the insurance provider's stock after purchasing an additional 29,150 shares during the period. Aberdeen Group plc owned 0.10% of The Hartford Insurance Group worth $35,900,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. NorthRock Partners LLC boosted its stake in shares of The Hartford Insurance Group by 2.6% during the 1st quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider's stock worth $395,000 after purchasing an additional 80 shares during the last quarter. Wayfinding Financial LLC boosted its stake in shares of The Hartford Insurance Group by 3.0% during the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider's stock worth $355,000 after purchasing an additional 84 shares during the last quarter. Wealthspire Advisors LLC boosted its stake in shares of The Hartford Insurance Group by 3.2% during the 1st quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider's stock worth $356,000 after purchasing an additional 88 shares during the last quarter. BayBridge Capital Group LLC boosted its stake in shares of The Hartford Insurance Group by 2.4% during the 2nd quarter. BayBridge Capital Group LLC now owns 3,776 shares of the insurance provider's stock worth $479,000 after purchasing an additional 89 shares during the last quarter. Finally, GSB Wealth Management LLC boosted its stake in shares of The Hartford Insurance Group by 2.4% during the 2nd quarter. GSB Wealth Management LLC now owns 3,849 shares of the insurance provider's stock worth $488,000 after purchasing an additional 90 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Trading Down 1.0%

Shares of HIG stock opened at $128.89 on Monday. The stock has a market cap of $36.24 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.24 and a beta of 0.69. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.17. The firm's 50 day moving average price is $131.46 and its two-hundred day moving average price is $126.37.

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 for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The firm had revenue of $6.99 billion for the quarter, compared to analysts' expectations of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The Hartford Insurance Group's revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.50 earnings per share. On average, analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 18.86%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Keefe, Bruyette & Woods raised their price target on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a research note 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 Friday, October 3rd. Weiss Ratings reissued a "buy (a-)" rating on shares of The Hartford Insurance Group in a research report on Wednesday, October 8th. Finally, Morgan Stanley raised their target price on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $140.07.

Insider Buying and Selling

In other news, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

About The Hartford Insurance Group

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.

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