Board of the Pension Protection Fund Acquires Shares of 10,400 The Hartford Insurance Group, Inc. $HIG

Key Points

• The Pension Protection Fund has acquired 10,400 shares of The Hartford Insurance Group, worth approximately $1.32 million, during the second quarter.
• Institutional investors hold a significant 93.42% of The Hartford's stock, with notable increases in stakes from firms like Woodline Partners, Nuveen LLC, and Robeco Institutional Asset Management.
• The Hartford Insurance Group recently declared a quarterly dividend of $0.52 per share, representing an annualized dividend of $2.08 and a yield of 1.6%.

Board of the Pension Protection Fund acquired a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,400 shares of the insurance provider's stock, valued at approximately $1,319,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HIG. Woodline Partners LP lifted its holdings in shares of The Hartford Insurance Group by 28,218.5% during the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider's stock valued at $93,763,000 after acquiring an additional 755,128 shares during the period. Nuveen LLC bought a new position in shares of The Hartford Insurance Group during the first quarter valued at $87,516,000. Bahl & Gaynor Inc. lifted its holdings in shares of The Hartford Insurance Group by 47.0% during the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock valued at $264,972,000 after acquiring an additional 684,390 shares during the period. Amundi lifted its holdings in shares of The Hartford Insurance Group by 27.4% during the first quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock valued at $239,905,000 after acquiring an additional 417,951 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of The Hartford Insurance Group by 38.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,493,077 shares of the insurance provider's stock valued at $189,427,000 after buying an additional 414,216 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $128.89 on Friday. The stock has a 50-day moving average price of $131.46 and a 200 day moving average price of $126.35. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The firm has a market cap of $36.24 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.24 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.17.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its 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 company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 EPS. Research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is presently 18.86%.

Insider Activity

In other news, 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 transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. The trade was a 31.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HIG. Cantor Fitzgerald began coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 target price for the company. JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a "neutral" rating in a research note on Thursday. Wall Street Zen upgraded The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Citigroup began coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 target price for the company. Finally, UBS Group raised their target price on The Hartford Insurance Group from $150.00 to $152.00 and gave the company a "buy" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $140.07.

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.

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