BNP Paribas Financial Markets Has $90.82 Million Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• BNP Paribas Financial Markets increased its stake in The Hartford Insurance Group by 23.4% in the fourth quarter, holding 659,088 shares valued at about $90.8 million at the end of the period.
• The Hartford reported Q1 earnings of $3.09 per share, missing analysts’ expectations of $3.39, while revenue came in at $7.23 billion versus the $7.41 billion consensus.
• The company declared a quarterly dividend of $0.60 per share, payable July 2, for an annualized payout of $2.40 and a yield of about 1.9%.

BNP Paribas Financial Markets boosted its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 23.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 659,088 shares of the insurance provider's stock after acquiring an additional 124,997 shares during the quarter. BNP Paribas Financial Markets owned 0.24% of The Hartford Insurance Group worth $90,822,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its stake in The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider's stock worth $26,000 after purchasing an additional 184 shares during the last quarter. JPL Wealth Management LLC bought a new stake in The Hartford Insurance Group during the third quarter worth $26,000. United Financial Planning Group LLC bought a new stake in The Hartford Insurance Group during the third quarter worth $29,000. Sunbelt Securities Inc. bought a new stake in The Hartford Insurance Group during the third quarter worth $29,000. Finally, Barnes Dennig Private Wealth Management LLC grew its stake in shares of The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider's stock worth $35,000 after buying an additional 152 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Trading Down 0.4%

HIG opened at $126.67 on Tuesday. The Hartford Insurance Group, Inc. has a twelve month low of $119.61 and a twelve month high of $144.50. The company has a fifty day moving average of $135.38 and a 200-day moving average of $136.00. The stock has a market cap of $34.72 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 2.28 and a beta of 0.47. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The firm had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business's revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $2.20 EPS. On average, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be paid a $0.60 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The Hartford Insurance Group's payout ratio is currently 16.87%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HIG shares. Cantor Fitzgerald cut their price target on The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a report on Monday, March 30th. Morgan Stanley lifted their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 3rd. Barclays reduced their target price on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating on the stock in a report on Friday, April 24th. Finally, UBS Group decreased their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, April 27th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $149.31.

Insiders Place Their Bets

In related news, EVP Lori A. Rodden sold 40,693 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the transaction, the executive vice president directly owned 25,392 shares of the company's stock, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Adin M. Tooker sold 8,895 shares of the 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 owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by insiders.

The Hartford Insurance Group Company 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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