Credit Agricole S A Trims Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Credit Agricole S A reduced its stake in The Hartford Insurance Group by 10.7%, selling 14,210 shares and holding 118,418 shares valued at $14,652,000 at the end of the last quarter.
• Several major investors including Northern Trust Corp and Ameriprise Financial Inc. have increased their positions in The Hartford, indicating growing institutional interest as 93.42% of the stock is owned by institutional investors.
• The Hartford recently reported $3.41 earnings per share, exceeding expectations, and announced a quarterly dividend of $0.52 aimed to enhance shareholder returns.

Credit Agricole S A lowered its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 118,418 shares of the insurance provider's stock after selling 14,210 shares during the quarter. Credit Agricole S A's holdings in The Hartford Insurance Group were worth $14,652,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. NorthRock Partners LLC boosted its position in shares of The Hartford Insurance Group by 2.6% during the 1st quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider's stock valued at $395,000 after acquiring an additional 80 shares during the last quarter. Wayfinding Financial LLC boosted its position in shares of The Hartford Insurance Group by 3.0% during the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider's stock valued at $355,000 after acquiring an additional 84 shares during the last quarter. Wealthspire Advisors LLC boosted its position in shares of The Hartford Insurance Group by 3.2% during the 1st quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider's stock valued at $356,000 after acquiring an additional 88 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of The Hartford Insurance Group by 1.7% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 5,580 shares of the insurance provider's stock valued at $690,000 after acquiring an additional 95 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its position in shares of The Hartford Insurance Group by 4.1% during the 1st quarter. HighPoint Advisor Group LLC now owns 2,447 shares of the insurance provider's stock valued at $299,000 after acquiring an additional 96 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Price Performance

NYSE:HIG traded up $0.7780 during mid-day trading on Friday, reaching $133.9780. The stock had a trading volume of 1,459,319 shares, compared to its average volume of 1,481,287. The firm has a 50 day moving average price of $125.64 and a two-hundred day moving average price of $122.50. The stock has a market capitalization of $37.67 billion, a P/E ratio of 12.15, a P/E/G ratio of 1.30 and a beta of 0.67. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $134.94. 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 announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The business had revenue of $6.99 billion for 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 business's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.50 EPS. As a group, analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HIG. UBS Group lifted their price target 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. JPMorgan Chase & Co. lifted their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Morgan Stanley lifted their price target 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. Keefe, Bruyette & Woods lifted their price target on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Finally, Cantor Fitzgerald started coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $137.64.

Insider Buying and Selling

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 77,574 shares of the company's stock, 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 owned by company insiders.

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.