Caisse DE Depot ET Placement DU Quebec Cuts Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• Caisse DE Depot ET Placement DU Quebec has reduced its stake in The Hartford Insurance Group by 21.9%, selling 245,119 shares, and now owns 874,201 shares valued at approximately $108 million.
• The Hartford's Q2 earnings exceeded expectations with an EPS of $3.41, outperforming estimates of $2.83, while the company's revenue was reported at $6.99 billion.
• The company announced a quarterly dividend of $0.52 per share, representing an annual yield of 1.6%, to be paid on October 2nd to record stockholders.

Caisse DE Depot ET Placement DU Quebec cut its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 21.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 874,201 shares of the insurance provider's stock after selling 245,119 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.31% of The Hartford Insurance Group worth $108,165,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HIG. Park Square Financial Group LLC raised its holdings in The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after acquiring an additional 155 shares during the period. Spurstone Advisory Services LLC bought a new stake in The Hartford Insurance Group during the fourth quarter valued at about $33,000. Center for Financial Planning Inc. bought a new stake in The Hartford Insurance Group during the first quarter valued at about $33,000. Itau Unibanco Holding S.A. bought a new stake in The Hartford Insurance Group during the fourth quarter valued at about $35,000. Finally, Meeder Asset Management Inc. raised its holdings in The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 161 shares during the period. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Stock Performance

HIG stock traded up $0.09 during midday trading on Friday, reaching $132.31. The stock had a trading volume of 1,142,816 shares, compared to its average volume of 1,632,581. The firm has a fifty day simple moving average of $126.24 and a two-hundred day simple moving average of $122.98. The stock has a market cap of $37.20 billion, a PE ratio of 12.00, a P/E/G ratio of 1.29 and a beta of 0.67. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $134.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31.

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, beating analysts' consensus estimates of $2.83 by $0.58. The business 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 was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $2.50 EPS. As a group, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is currently 18.86%.

Insider Buying and Selling at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at $9,580,389. The trade was a 31.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on HIG shares. Morgan Stanley upped their price objective on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Cantor Fitzgerald started coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an "overweight" rating and a $152.00 price objective on the stock. UBS Group upped their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Citigroup started coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $137.64.

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.