Adage Capital Partners GP L.L.C. Has $105.47 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in The Hartford Insurance Group by 81.0%, owning 852,432 shares valued at approximately $105.47 million.
• Other institutional investors, such as GAMMA Investing LLC and Ameriprise Financial Inc., have also significantly boosted their holdings in The Hartford, with GAMMA increasing its shares by over 14,000% during the first quarter.
• The Hartford Insurance Group reported an impressive earnings per share of $3.41 for the last quarter, surpassing analyst estimates by $0.58, while revenues increased by 7.7% year-over-year.

Adage Capital Partners GP L.L.C. boosted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 81.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 852,432 shares of the insurance provider's stock after acquiring an additional 381,600 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.30% of The Hartford Insurance Group worth $105,471,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HIG. GAMMA Investing LLC boosted its holdings in The Hartford Insurance Group by 14,049.5% during the first quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock valued at $1,761,930,000 after purchasing an additional 1,413,945 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in The Hartford Insurance Group by 48.1% during the fourth 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 in the last quarter. Nuveen LLC acquired a new stake in The Hartford Insurance Group during the first quarter valued at approximately $87,516,000. Bahl & Gaynor Inc. boosted its holdings in The Hartford Insurance Group by 47.0% during the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock valued at $264,972,000 after purchasing an additional 684,390 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in The Hartford Insurance Group by 11.3% during the first quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider's stock valued at $487,077,000 after purchasing an additional 398,950 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the company's 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 transaction, the chief financial officer owned 77,574 shares of the company's stock, valued at approximately $9,580,389. This represents a 31.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company's stock.

The Hartford Insurance Group Trading Down 2.3%

NYSE:HIG traded down $3.05 during trading hours on Friday, hitting $131.65. 1,975,142 shares of the stock were exchanged, compared to its average volume of 1,215,685. The company's 50 day moving average is $127.08 and its two-hundred day moving average is $123.84. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17. 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 company has a market capitalization of $37.02 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 1.30 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The firm had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the business earned $2.50 EPS. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, sell-side analysts anticipate 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 company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a yield of 1.6%. The Hartford Insurance Group's dividend payout ratio is currently 18.86%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HIG. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price objective (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. JPMorgan Chase & Co. boosted their target price 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. Cantor Fitzgerald began coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 target price on the stock. Citigroup began coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 target price on the stock. Finally, UBS Group boosted their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, The Hartford Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.00.

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.