Candriam S.C.A. Lowers Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Candriam S.C.A. reduced its stake in The Hartford Insurance Group by 14.0% in the first quarter, ending up with 38,870 shares valued at approximately $4.81 million.
• GAMMA Investing LLC significantly increased its holdings in The Hartford Insurance Group by over 14,000%, acquiring 1.42 million shares valued at about $1.76 billion.
• The Hartford Insurance Group announced a quarterly dividend of $0.52 per share, representing an annualized yield of 1.6%, set to be paid on October 2nd.

Candriam S.C.A. lowered its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,870 shares of the insurance provider's stock after selling 6,315 shares during the period. Candriam S.C.A.'s holdings in The Hartford Insurance Group were worth $4,809,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HIG. GAMMA Investing LLC increased its position in shares of The Hartford Insurance Group by 14,049.5% during the 1st quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock valued at $1,761,930,000 after purchasing an additional 1,413,945 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of The Hartford Insurance Group by 48.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock valued at $247,761,000 after purchasing an additional 735,170 shares during the last quarter. Nuveen LLC bought a new position in shares of The Hartford Insurance Group during the 1st quarter valued at about $87,516,000. Northern Trust Corp increased its position in shares of The Hartford Insurance Group by 17.2% during the 4th quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock valued at $387,021,000 after purchasing an additional 519,717 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new position in shares of The Hartford Insurance Group during the 4th quarter valued at about $46,271,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction on 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 owned 77,574 shares in the company, valued at approximately $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.50% of the company's stock.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $133.9780 on Friday. The firm has a market cap of $37.67 billion, a P/E ratio of 12.15, a P/E/G ratio of 1.29 and a beta of 0.67. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $134.94. The business's 50 day moving average price is $125.64 and its 200-day moving average price is $122.44. 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 earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The company had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 EPS. On average, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

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

Analyst Ratings Changes

HIG has been the topic of several recent research reports. UBS Group raised their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Cantor Fitzgerald initiated coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an "overweight" rating and a $152.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Citigroup initiated coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price target on the stock. Finally, Raymond James Financial restated an "outperform" rating and set a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $137.64.

About The Hartford Insurance Group

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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