Deutsche Bank AG Decreases Stock Position in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Deutsche Bank AG reduced its stake in The Hartford Insurance Group by 0.9%, bringing their total shares to 1,110,948, which is valued at approximately $137.5 million.
• The Hartford reported a Q2 earnings per share of $3.41, exceeding the consensus estimate of $2.83, with a revenue of $6.99 billion for the quarter.
• The company announced a quarterly dividend of $0.52 per share, set to be paid on October 2nd, representing a 1.6% dividend yield.

Deutsche Bank AG trimmed its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 0.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,110,948 shares of the insurance provider's stock after selling 10,139 shares during the period. Deutsche Bank AG owned about 0.39% of The Hartford Insurance Group worth $137,458,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HIG. Cerity Partners LLC raised its stake in shares of The Hartford Insurance Group by 4.9% in the 4th quarter. Cerity Partners LLC now owns 70,747 shares of the insurance provider's stock valued at $7,829,000 after purchasing an additional 3,302 shares in the last quarter. FIL Ltd lifted its stake in The Hartford Insurance Group by 150.9% during the fourth quarter. FIL Ltd now owns 57,308 shares of the insurance provider's stock valued at $6,269,000 after purchasing an additional 34,471 shares during the last quarter. Bank of Nova Scotia lifted its stake in The Hartford Insurance Group by 2.5% during the fourth quarter. Bank of Nova Scotia now owns 43,344 shares of the insurance provider's stock valued at $4,742,000 after purchasing an additional 1,073 shares during the last quarter. DRW Securities LLC acquired a new stake in The Hartford Insurance Group during the fourth quarter valued at approximately $229,000. Finally, Scotia Capital Inc. acquired a new stake in The Hartford Insurance Group during the fourth quarter valued at approximately $509,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Price Performance

NYSE:HIG traded up $0.71 during mid-day trading on Tuesday, reaching $129.05. The stock had a trading volume of 927,559 shares, compared to its average volume of 1,598,245. The stock has a 50-day simple moving average of $124.81 and a two-hundred day simple moving average of $121.41. The stock has a market capitalization of $36.28 billion, a PE ratio of 11.70, a P/E/G ratio of 1.26 and a beta of 0.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $132.09.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping the consensus estimate of $2.83 by $0.58. The business had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $2.50 EPS. On average, equities analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is 18.86%.

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 value of $4,364,490.00. Following the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley raised their target price on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Finally, 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 research note on Monday, July 7th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $136.42.

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.