The Hartford Insurance Group, Inc. $HIG Shares Bought by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in The Hartford Insurance Group, acquiring an additional 3,718 shares to bring its total holdings to 121,655 shares valued at approximately $15 million.
• Insider activity included CFO Beth Ann Costello selling 35,340 shares, resulting in a significant decrease of 31.30% in her personal holdings in the company.
• Analysts have mixed views on the stock, with a consensus rating of Moderate Buy and varied price targets ranging from $138.00 to $150.00.

Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 121,655 shares of the insurance provider's stock after buying an additional 3,718 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in The Hartford Insurance Group were worth $15,052,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HIG. GAMMA Investing LLC increased 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 worth $1,761,930,000 after buying an additional 1,413,945 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in The Hartford Insurance Group by 48.1% in 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 in the last quarter. Nuveen LLC acquired a new stake in The Hartford Insurance Group in the 1st quarter valued at $87,516,000. Northern Trust Corp increased its holdings in The Hartford Insurance Group by 17.2% in 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 in the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in The Hartford Insurance Group in the 4th quarter valued at $46,271,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HIG has been the subject of several recent research reports. Citigroup initiated coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 price target for the company. Cantor Fitzgerald initiated coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 price target for the company. Barclays lowered their price target on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a report on Monday, July 7th. UBS Group increased their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.64.

Insiders Place Their Bets

In related news, CFO Beth Ann Costello sold 35,340 shares of the 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 sale, the chief financial officer owned 77,574 shares in the company, valued at $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by company insiders.

The Hartford Insurance Group Stock Performance

HIG traded up $0.7780 on Friday, hitting $133.9780. 1,459,319 shares of the company's stock were exchanged, compared to its average volume of 1,481,287. The firm has a market cap of $37.67 billion, a PE ratio of 12.15, a P/E/G ratio of 1.30 and a beta of 0.67. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $134.94. The stock has a fifty day moving average of $125.64 and a two-hundred day moving average of $122.50. 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 Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The Hartford Insurance Group's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.50 earnings per share. On average, research analysts anticipate 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. 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 is 18.86%.

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.