AIA Group Ltd Invests $302,000 in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• AIA Group Ltd has acquired 2,441 shares of The Hartford Insurance Group, valued at approximately $302,000, signaling increasing interest among institutional investors in the company.
• The Hartford reported a Q2 earnings per share (EPS) of $3.41, exceeding analysts' estimates by $0.58, although revenue was slightly below expectations at $6.99 billion.
• The company has declared a quarterly dividend of $0.52 per share, with a dividend yield of 1.6%, reflecting a stable capital return to shareholders.

AIA Group Ltd bought a new stake in 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 (SEC). The fund bought 2,441 shares of the insurance provider's stock, valued at approximately $302,000.

Several other hedge funds have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of The Hartford Insurance Group by 6.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider's stock valued at $419,053,000 after buying an additional 234,320 shares during the period. Northern Trust Corp raised its stake in shares of The Hartford Insurance Group by 17.2% during the 4th quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock valued at $387,021,000 after purchasing an additional 519,717 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of The Hartford Insurance Group by 1.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider's stock valued at $434,181,000 after purchasing an additional 60,116 shares during the period. First Trust Advisors LP raised its stake in shares of The Hartford Insurance Group by 15.1% during the 4th quarter. First Trust Advisors LP now owns 2,683,531 shares of the insurance provider's stock valued at $293,578,000 after purchasing an additional 352,282 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of The Hartford Insurance Group by 48.1% during the 4th 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 during the period. 93.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.50% of the company's stock.

The Hartford Insurance Group Price Performance

Shares of HIG traded down $0.60 during midday trading on Friday, reaching $130.74. The stock had a trading volume of 2,700,466 shares, compared to its average volume of 1,658,785. The company's 50-day moving average is $124.91 and its 200 day moving average is $121.64. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $132.09. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $36.76 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.28 and a beta of 0.67.

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 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.58. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 earnings per share. On average, equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm 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 $0.52 dividend. The ex-dividend date 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 (DPR) is 18.86%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Cantor Fitzgerald started coverage on The Hartford Insurance Group in a research note on Wednesday. They set an "overweight" rating and a $152.00 price objective on the stock. Wall Street Zen upgraded The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. 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 research report on Tuesday, July 29th. 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 research report on Monday, August 4th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $137.64.

The Hartford Insurance Group 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.