Citigroup Inc. Boosts Stake in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Citigroup Inc. increased its holdings in The Hartford Insurance Group by 4.6%, owning 325,722 shares valued at approximately $40.3 million as of the latest SEC filing.
• Analysts have set a range of price targets for The Hartford Insurance Group shares, with the average target currently at $136.42 and a consensus rating of "Moderate Buy".
• The Hartford Insurance Group recently announced a quarterly dividend of $0.52 per share, with a payout ratio of 18.86%.

Citigroup Inc. increased its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 325,722 shares of the insurance provider's stock after acquiring an additional 14,367 shares during the period. Citigroup Inc. owned about 0.11% of The Hartford Insurance Group worth $40,302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Scotia Capital Inc. purchased a new stake in shares of The Hartford Insurance Group during the fourth quarter valued at approximately $509,000. Sterling Capital Management LLC boosted its holdings in shares of The Hartford Insurance Group by 53.6% during the fourth quarter. Sterling Capital Management LLC now owns 17,202 shares of the insurance provider's stock worth $1,882,000 after purchasing an additional 6,003 shares during the period. Synovus Financial Corp lifted its holdings in The Hartford Insurance Group by 5.2% in the 4th quarter. Synovus Financial Corp now owns 10,552 shares of the insurance provider's stock worth $1,154,000 after buying an additional 523 shares during the period. Trustmark National Bank Trust Department lifted its holdings in The Hartford Insurance Group by 2.0% in the 4th quarter. Trustmark National Bank Trust Department now owns 42,947 shares of the insurance provider's stock worth $4,698,000 after buying an additional 829 shares during the period. Finally, Mariner LLC lifted its holdings in The Hartford Insurance Group by 1.5% in the 4th quarter. Mariner LLC now owns 53,611 shares of the insurance provider's stock worth $5,865,000 after buying an additional 810 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the sale, the chief financial officer owned 77,574 shares of the company's stock, valued at $9,580,389. This represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HIG. Morgan Stanley raised their price target on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Wells Fargo & Company raised their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. UBS Group raised their target price on shares of 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. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Cantor Fitzgerald assumed coverage on shares of The Hartford Insurance Group in a report on Wednesday. They issued an "overweight" rating and a $152.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.64.

The Hartford Insurance Group Stock Up 1.5%

Shares of HIG traded up $1.96 during trading hours on Wednesday, hitting $130.98. The company had a trading volume of 1,181,555 shares, compared to its average volume of 1,557,778. 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 stock has a market capitalization of $36.83 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 1.26 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 $132.09. The firm has a fifty day moving average price of $124.84 and a 200-day moving average price of $121.52.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period in the previous year, the business earned $2.50 EPS. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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

The Hartford Insurance Group Company 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.