The Hartford Insurance Group, Inc. $HIG Shares Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group plc has increased its stake in The Hartford Insurance Group by 84.0%, now owning approximately 0.09% of the company, valued at $31.29 million.
• The Hartford Insurance Group reported an earnings per share of $3.41, surpassing analyst estimates of $2.83, while revenue for the quarter was $6.99 billion.
• The company declared a quarterly dividend of $0.52, resulting in an annualized yield of 1.6%, with a payout ratio of 18.86%.

Aberdeen Group plc lifted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 84.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 253,815 shares of the insurance provider's stock after acquiring an additional 115,864 shares during the quarter. Aberdeen Group plc owned 0.09% of The Hartford Insurance Group worth $31,289,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mariner LLC increased its position in shares of The Hartford Insurance Group by 1.5% in the 4th quarter. Mariner LLC now owns 53,611 shares of the insurance provider's stock valued at $5,865,000 after purchasing an additional 810 shares during the last quarter. United Capital Financial Advisors LLC increased its position in shares of The Hartford Insurance Group by 1.3% in the 4th quarter. United Capital Financial Advisors LLC now owns 12,134 shares of the insurance provider's stock valued at $1,327,000 after purchasing an additional 161 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of The Hartford Insurance Group by 7.4% in the 4th quarter. NewEdge Advisors LLC now owns 49,283 shares of the insurance provider's stock valued at $5,392,000 after purchasing an additional 3,380 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of The Hartford Insurance Group in the 4th quarter valued at approximately $10,501,000. Finally, Canada Pension Plan Investment Board increased its position in shares of The Hartford Insurance Group by 38.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 347,211 shares of the insurance provider's stock valued at $37,985,000 after purchasing an additional 96,974 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on HIG. Keefe, Bruyette & Woods increased their price objective on shares of 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. JPMorgan Chase & Co. increased their target price 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. UBS Group increased their target price 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. Citigroup initiated coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 target price on the stock. Finally, Morgan Stanley increased their target price on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, The Hartford Insurance Group presently has an average rating of "Moderate Buy" and an average price target of $137.64.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.50% of the company's stock.

The Hartford Insurance Group Stock Performance

Shares of HIG stock traded up $1.8370 during mid-day trading on Wednesday, hitting $133.6470. The stock had a trading volume of 1,653,240 shares, compared to its average volume of 1,650,707. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $134.12. The firm has a market cap of $37.58 billion, a PE ratio of 12.12, a PEG ratio of 1.26 and a beta of 0.67. 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 company's 50-day simple moving average is $125.13 and its 200-day simple moving average is $122.07.

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

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders 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 yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is 18.86%.

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.