Caisse Des Depots ET Consignations Takes $3.06 Million Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Caisse Des Depots ET Consignations acquired a new stake of 22,188 shares in The Hartford during Q4, valued at about $3.06 million.
• Institutional investors own 93.42% of HIG with several big purchases (Danske, Balyasny, Zurich, Invesco), and analysts have a consensus rating of "Moderate Buy" with an average target of $149.31.
• The Hartford missed quarterly EPS expectations ($3.09 vs. $3.39) despite revenue growth, and insiders have sold roughly 349,282 shares totaling about $48.2 million over the past three months.

Caisse Des Depots ET Consignations acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 22,188 shares of the insurance provider's stock, valued at approximately $3,058,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HIG. Danske Bank A S acquired a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at $91,398,000. Balyasny Asset Management L.P. raised its holdings in shares of The Hartford Insurance Group by 6,431.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider's stock valued at $85,829,000 after purchasing an additional 633,592 shares in the last quarter. Zurich Insurance Group Ltd FI raised its holdings in shares of The Hartford Insurance Group by 208.2% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 799,973 shares of the insurance provider's stock valued at $106,708,000 after purchasing an additional 540,445 shares in the last quarter. Invesco Ltd. raised its holdings in shares of The Hartford Insurance Group by 10.3% in the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock valued at $711,141,000 after purchasing an additional 496,821 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of The Hartford Insurance Group by 16.7% in the 3rd quarter. First Trust Advisors LP now owns 3,162,437 shares of the insurance provider's stock valued at $421,837,000 after purchasing an additional 452,274 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on HIG shares. Morgan Stanley raised their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company an "equal weight" rating in a report on Tuesday, February 3rd. Keefe, Bruyette & Woods restated 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. Roth Mkm raised their price objective on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Friday, January 30th. Wells Fargo & Company lifted their price target on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Finally, Barclays cut their price target on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating on the stock in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $149.31.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $135.99 on Friday. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $37.28 billion, a P/E ratio of 9.56, a P/E/G ratio of 2.44 and a beta of 0.50. The company's fifty day moving average price is $137.31 and its 200 day moving average price is $134.90.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $14.45 billion for the quarter, compared to analysts' expectations of $7.41 billion. During the same period in the previous year, the business posted $2.20 earnings per share. The company's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 13.26 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, March 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 16.87%.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the firm's stock in a transaction on Tuesday, March 10th. The shares were 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 trade represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher Swift sold 201,938 shares of the firm's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the transaction, the chief executive officer directly owned 194,817 shares in the company, valued at $26,574,986.97. The trade was a 50.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 349,282 shares of company stock worth $48,184,324 over the last three months. 1.30% of the stock is currently 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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