Amundi Acquires 231,209 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Amundi increased its Hartford stake by 15.4%, purchasing 231,209 shares to own 1.73 million shares worth approximately $234.6 million, or 0.63% of the company. Institutional investors collectively own 93.42% of HIG.
• The Hartford exceeded quarterly expectations, reporting $3.42 in EPS versus the $3.16 consensus and revenue of $7.26 billion, up 8.1% year over year. The company also declared a $0.60 quarterly dividend, representing a 1.7% yield.
• Analyst sentiment remains mixed: HIG has an overall “Hold” rating and an average price target of $149.06, while President Adin M. Tooker sold 8,895 shares under a pre-arranged Rule 10b5-1 plan.

Amundi increased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,734,466 shares of the insurance provider's stock after buying an additional 231,209 shares during the period. Amundi owned 0.63% of The Hartford Insurance Group worth $234,552,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. JPL Wealth Management LLC bought a new position in The Hartford Insurance Group in the 3rd quarter valued at $26,000. First Pacific Financial bought a new stake in shares of The Hartford Insurance Group during the first quarter worth $26,000. Sunbelt Securities Inc. acquired a new position in shares of The Hartford Insurance Group during the third quarter valued at $29,000. Phillip James Consulting Co. acquired a new position in shares of The Hartford Insurance Group during the first quarter valued at $29,000. Finally, Sound Income Strategies LLC boosted its holdings in The Hartford Insurance Group by 45.3% in the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 87 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

Insider Buying and Selling

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company's stock.

The Hartford Insurance Group Trading Down 1.9%

HIG opened at $142.95 on Friday. The firm's fifty day moving average is $134.40 and its two-hundred day moving average is $135.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market cap of $38.72 billion, a PE ratio of 9.24, a price-to-earnings-growth ratio of 3.95 and a beta of 0.47. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping analysts' consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company's quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.41 EPS. Equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.77 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group's dividend payout ratio is 15.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HIG shares. Zacks Research downgraded shares of The Hartford Insurance Group from a "hold" rating to a "strong sell" rating in a research report on Monday. Wells Fargo & Company dropped their price target on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday. Mizuho increased their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an "outperform" rating in a report on Thursday, July 9th. Royal Bank Of Canada lifted their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "sector perform" rating in a report on Monday. Finally, Cantor Fitzgerald upped their target price on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $149.06.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

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