The Hartford Insurance Group, Inc. $HIG Stock Holdings Lifted by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. has increased its stake in The Hartford Insurance Group by 19.8%, acquiring an additional 4,233 shares, bringing its total ownership to 25,597 shares valued at approximately $3.16 million.
• The Hartford recently reported earnings per share of $3.41 for the last quarter, significantly exceeding analyst expectations of $2.83, with revenue slightly below forecasts at $6.99 billion.
• The company announced a quarterly dividend of $0.52 per share, set to be paid on October 2nd, signifying an annual yield of approximately 1.6% and a dividend payout ratio of 18.86%.

Baird Financial Group Inc. increased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 19.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,597 shares of the insurance provider's stock after purchasing an additional 4,233 shares during the period. Baird Financial Group Inc.'s holdings in The Hartford Insurance Group were worth $3,167,000 as of its most recent SEC filing.

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

The Hartford Insurance Group Stock Down 0.7%

The Hartford Insurance Group stock traded down $0.95 during midday trading on Monday, hitting $130.72. 1,262,432 shares of the stock were exchanged, compared to its average volume of 1,266,722. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $135.17. The firm has a market cap of $36.76 billion, a P/E ratio of 11.85, a P/E/G ratio of 1.27 and a beta of 0.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The company has a 50 day moving average price of $127.16 and a two-hundred day moving average price of $124.13.

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 (EPS) for the quarter, topping 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 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 previous year, the firm posted $2.50 EPS. The firm's quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts predict 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 business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The Hartford Insurance Group's payout ratio is presently 18.86%.

Insider Activity

In other 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 value of $284,339.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was 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 directly owned 77,574 shares of the company's stock, valued at $9,580,389. The trade was a 31.30% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HIG. Cantor Fitzgerald initiated coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 price objective for the company. Wall Street Zen cut shares of The Hartford Insurance Group from a "buy" rating to a "hold" rating in a research report on Friday. Barclays decreased their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research report on Monday, July 7th. JPMorgan Chase & Co. upped 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 report on Tuesday, July 29th. Finally, Citigroup initiated coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, The Hartford Insurance Group has an average rating of "Moderate Buy" and an average price target of $138.00.

The Hartford Insurance Group Company 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.