Czech National Bank Increases Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• The Czech National Bank increased its stake in The Hartford Insurance Group by 5.1%, acquiring an additional 3,387 shares during the second quarter, bringing its total holdings to 69,444 shares valued at approximately $8.81 million.
• Several institutional investors have also raised their stakes in The Hartford, with Northern Trust Corp notably increasing its stake by 11.3%, owning 3,936,615 shares worth about $487 million.
• The Hartford Insurance Group reported $3.41 EPS for the latest quarter, exceeding analysts' estimates, and declared a quarterly dividend of $0.52 per share, representing an annual yield of 1.6%.

Czech National Bank boosted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 5.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,444 shares of the insurance provider's stock after purchasing an additional 3,387 shares during the quarter. Czech National Bank's holdings in The Hartford Insurance Group were worth $8,810,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC grew its stake in The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after acquiring an additional 155 shares in the last quarter. Center for Financial Planning Inc. purchased a new stake in The Hartford Insurance Group during the 1st quarter worth approximately $33,000. Meeder Asset Management Inc. boosted its holdings in shares of The Hartford Insurance Group by 123.8% in the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 161 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in The Hartford Insurance Group in the 1st quarter worth about $37,000. Finally, Golden State Wealth Management LLC raised its position in The Hartford Insurance Group by 167.8% during the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock worth $39,000 after acquiring an additional 198 shares during the period. Institutional investors 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 firm's 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 sale, the chief financial officer owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

HIG has been the subject of a number of research reports. Morgan Stanley lifted their price objective on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Raymond James Financial restated an "outperform" rating and issued a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Piper Sandler increased their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Finally, UBS Group increased their price objective on shares of 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. Seven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $138.00.

The Hartford Insurance Group Price Performance

Shares of HIG traded down $0.51 during midday trading on Friday, reaching $130.90. The stock had a trading volume of 3,393,639 shares, compared to its average volume of 1,331,511. The company's 50-day moving average is $128.62 and its 200 day moving average is $124.92. The company has a market capitalization of $36.81 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.17.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $6.99 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $2.50 EPS. On average, equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The Hartford Insurance Group's dividend payout ratio is presently 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.