AG2R LA Mondiale Gestion D Actifs Buys New Stake in The Hartford Insurance Group, Inc. $HIG

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired a new stake in The Hartford Insurance Group, purchasing 11,519 shares valued at approximately $1.5 million.
• The Hartford Insurance Group reported a 3.41 EPS for the latest quarter, exceeding analyst expectations by $0.58, with revenue of $6.99 billion.
• The company announced a quarterly dividend of $0.52 per share, yielding 1.6%, set to be paid on October 2nd.

AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,519 shares of the insurance provider's stock, valued at approximately $1,496,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HIG. GAMMA Investing LLC lifted its holdings in shares of The Hartford Insurance Group by 14,049.5% during the 1st quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock valued at $1,761,930,000 after acquiring an additional 1,413,945 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of The Hartford Insurance Group by 28,218.5% during the 1st quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider's stock valued at $93,763,000 after acquiring an additional 755,128 shares in the last quarter. Nuveen LLC acquired a new position in shares of The Hartford Insurance Group during the 1st quarter valued at $87,516,000. Bahl & Gaynor Inc. lifted its holdings in shares of The Hartford Insurance Group by 47.0% during the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock valued at $264,972,000 after acquiring an additional 684,390 shares in the last quarter. Finally, Amundi lifted its holdings in shares of The Hartford Insurance Group by 27.4% during the 1st quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock valued at $239,905,000 after acquiring an additional 417,951 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Trading Down 0.5%

NYSE HIG opened at $132.52 on Friday. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17. The company has a 50-day simple moving average of $127.74 and a 200-day simple moving average of $124.53. 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 firm has a market capitalization of $37.26 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly 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 Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The business had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period in the previous year, the business posted $2.50 EPS. The company's quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday. Keefe, Bruyette & Woods lifted 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. Piper Sandler lifted 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. Barclays dropped 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 note on Monday, July 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $138.00.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the business's stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of the business'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 transaction, the chief financial officer directly owned 77,574 shares of the company's stock, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% 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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