The Hartford Insurance Group, Inc. $HIG Shares Purchased by American Century Companies Inc.

Key Points

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American Century Companies Inc. lifted its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 746,591 shares of the insurance provider's stock after acquiring an additional 103,356 shares during the period. American Century Companies Inc. owned 0.26% of The Hartford Insurance Group worth $92,376,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Park Square Financial Group LLC lifted its holdings in shares of The Hartford Insurance Group by 146.2% during the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after acquiring an additional 155 shares during the period. Center for Financial Planning Inc. purchased a new position in shares of The Hartford Insurance Group during the 1st quarter worth about $33,000. Meeder Asset Management Inc. lifted its holdings in shares of The Hartford Insurance Group by 123.8% during the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after acquiring an additional 161 shares during the period. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Insurance Group during the 4th quarter worth about $33,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of The Hartford Insurance Group during the 1st quarter worth about $37,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.50% of the company's stock.

The Hartford Insurance Group Stock Down 0.6%

Shares of HIG traded down $0.8330 during mid-day trading on Thursday, reaching $133.1370. 1,075,414 shares of the stock traded hands, compared to its average volume of 1,646,954. The firm has a market cap of $37.43 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.28 and a beta of 0.67. The stock has a fifty day simple moving average of $125.32 and a 200 day simple moving average of $122.15. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $134.12. 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 (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $7.02 billion. During the same quarter last year, the company earned $2.50 earnings per share. The business's quarterly revenue was up 7.7% compared to the same quarter last year. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is 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 presently 18.86%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Barclays cut 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 report on Monday, July 7th. Morgan Stanley raised their price target on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company lifted their price objective on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Seven 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.com, The Hartford Insurance Group has a consensus rating of "Moderate Buy" and an average 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.