Citizens Financial Group Inc. RI Has $575,000 Stake in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Citizens Financial Group Inc. RI reduced its stake in The Hartford Insurance Group by 41.5% during the first quarter, holding 4,627 shares valued at $575,000.
• Several hedge funds recently increased their positions in The Hartford, indicating ongoing institutional interest, with institutions owning 93.42% of the company’s stock.
• The Hartford announced a quarterly dividend of $0.52 per share, representing a 1.6% dividend yield, with the payout scheduled for October 2nd.

Citizens Financial Group Inc. RI decreased its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 41.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,627 shares of the insurance provider's stock after selling 3,278 shares during the period. Citizens Financial Group Inc. RI's holdings in The Hartford Insurance Group were worth $575,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Square Financial Group LLC boosted its position in shares of The Hartford Insurance Group by 146.2% during the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after purchasing an additional 155 shares in the last quarter. Spurstone Advisory Services LLC bought a new position in shares of The Hartford Insurance Group during the 4th quarter worth about $33,000. Center for Financial Planning Inc. bought a new position in shares of The Hartford Insurance Group during the 1st quarter worth about $33,000. Itau Unibanco Holding S.A. bought a new position in shares of The Hartford Insurance Group during the 4th quarter worth about $35,000. Finally, Meeder Asset Management Inc. boosted its position in shares of The Hartford Insurance Group by 123.8% during the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after purchasing an additional 161 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on HIG shares. Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Raymond James Financial restated an "outperform" rating and issued a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Barclays lowered their target price on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. Morgan Stanley upped their target price on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Finally, UBS Group upped 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 report on Monday, August 4th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $136.42.

The Hartford Insurance Group Trading Up 0.8%

Shares of HIG stock opened at $128.20 on Friday. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $132.09. 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 company has a 50-day simple moving average of $124.83 and a two-hundred day simple moving average of $121.15. The company has a market capitalization of $36.04 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.25 and a beta of 0.67.

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

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders 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 dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is currently 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.

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