Banque Cantonale Vaudoise Purchases New Holdings in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Banque Cantonale Vaudoise acquired a new position in The Hartford Insurance Group, buying 11,261 shares valued at approximately $1.39 million.
• The Hartford Insurance Group reported earnings of $3.41 per share, exceeding estimates by $0.58, with a revenue of $6.99 billion for the quarter.
• The company announced a quarterly dividend of $0.52 per share, reflecting an annualized dividend yield of 1.67% and a payout ratio of 18.86%.

Banque Cantonale Vaudoise bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,261 shares of the insurance provider's stock, valued at approximately $1,393,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Wayfinding Financial LLC lifted its holdings in The Hartford Insurance Group by 3.0% in the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider's stock worth $355,000 after buying an additional 84 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in The Hartford Insurance Group by 1.7% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 5,580 shares of the insurance provider's stock valued at $690,000 after purchasing an additional 95 shares during the last quarter. HighPoint Advisor Group LLC boosted its stake in The Hartford Insurance Group by 4.1% during the 1st quarter. HighPoint Advisor Group LLC now owns 2,447 shares of the insurance provider's stock valued at $299,000 after purchasing an additional 96 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its stake in The Hartford Insurance Group by 0.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,286 shares of the insurance provider's stock valued at $1,453,000 after purchasing an additional 105 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of The Hartford Insurance Group by 1.9% in the 1st quarter. International Assets Investment Management LLC now owns 5,766 shares of the insurance provider's stock worth $713,000 after buying an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Down 1.2%

Shares of HIG stock traded down $1.53 during trading hours on Friday, reaching $122.86. 1,797,758 shares of the company's stock were exchanged, compared to its average volume of 1,574,731. 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 stock's 50 day moving average is $125.05 and its 200-day moving average is $120.61. The Hartford Insurance Group, Inc. has a fifty-two week low of $103.96 and a fifty-two week high of $132.09. The company has a market cap of $34.54 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 1.23 and a beta of 0.69.

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 EPS for the quarter, beating 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 company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period in the prior year, the company earned $2.50 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. Analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is presently 18.86%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on HIG shares. UBS Group lifted their target price on The Hartford Insurance Group from $142.00 to $145.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Morgan Stanley lifted their target price on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday. Keefe, Bruyette & Woods dropped their price target on The Hartford Insurance Group from $140.00 to $133.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company increased their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Raymond James Financial restated an "outperform" rating and issued a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a research note on Friday. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Hartford Insurance Group has an average rating of "Moderate Buy" and an average target price of $135.67.

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.