DnB Asset Management AS Raises Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• DnB Asset Management AS increased its stake in The Hartford Insurance Group by 3.5%, now owning approximately 0.11% of the company valued at $37.1 million.
• The Hartford Insurance Group reported $3.41 earnings per share for the last quarter, exceeding expectations by $0.58, despite revenue slightly missing estimates.
• The company declared a quarterly dividend of $0.52 per share, with an annualized yield of 1.6%, set to be paid on October 2nd.

DnB Asset Management AS grew its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,059 shares of the insurance provider's stock after buying an additional 10,272 shares during the period. DnB Asset Management AS owned 0.11% of The Hartford Insurance Group worth $37,126,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in HIG. Aptus Capital Advisors LLC increased its stake in shares of The Hartford Insurance Group by 29.5% in the fourth quarter. Aptus Capital Advisors LLC now owns 4,880 shares of the insurance provider's stock valued at $535,000 after buying an additional 1,112 shares during the period. Baird Financial Group Inc. grew its stake in The Hartford Insurance Group by 2.6% during the fourth quarter. Baird Financial Group Inc. now owns 21,364 shares of the insurance provider's stock worth $2,337,000 after purchasing an additional 550 shares during the period. Balyasny Asset Management L.P. grew its stake in The Hartford Insurance Group by 608.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 16,778 shares of the insurance provider's stock worth $1,836,000 after purchasing an additional 20,078 shares during the period. Caxton Associates LP acquired a new stake in The Hartford Insurance Group during the fourth quarter worth approximately $463,000. Finally, Captrust Financial Advisors grew its stake in The Hartford Insurance Group by 6.2% during the fourth quarter. Captrust Financial Advisors now owns 21,385 shares of the insurance provider's stock worth $2,340,000 after purchasing an additional 1,254 shares during the period. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Stock Down 0.7%

Shares of HIG stock traded down $0.95 during trading hours on Monday, reaching $130.72. The company had a trading volume of 1,262,432 shares, compared to its average volume of 1,628,677. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.17. 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 business has a fifty day simple moving average of $127.08 and a 200-day simple moving average of $123.99. The company has a market cap of $36.76 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted 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 return on equity of 19.60% and a net margin of 11.83%.The company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the company earned $2.50 earnings per share. The company's revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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 issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 18.86%.

Analysts Set New Price Targets

Several equities research analysts recently commented on HIG shares. UBS Group raised their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Cantor Fitzgerald started coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an "overweight" rating and a $152.00 target price for the company. JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Wells Fargo & Company raised their target price 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. Finally, Wall Street Zen lowered The Hartford Insurance Group from a "buy" rating to a "hold" rating in a report on Friday. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of "Moderate Buy" and an average target price of $138.00.

Insider Buying and Selling

In other news, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at $9,580,389. This represents a 31.30% decrease in their position. The disclosure for this sale can be found here. 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.