Federation des caisses Desjardins du Quebec Sells 37,641 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Federation des caisses Desjardins du Quebec reduced its stake in The Hartford Insurance Group by 37.7%, now owning 62,291 shares worth approximately $7.7 million.
• Insider trading activity showed CFO Beth Ann Costello sold 35,340 shares for about $4.36 million, further decreasing their position by 31.3%.
• The Hartford Insurance Group has received multiple positive analyst ratings, with target prices ranging from $138.00 to $152.00 and a general rating of "Moderate Buy."

Federation des caisses Desjardins du Quebec lessened its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 37.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 62,291 shares of the insurance provider's stock after selling 37,641 shares during the period. Federation des caisses Desjardins du Quebec's holdings in The Hartford Insurance Group were worth $7,709,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of HIG. GAMMA Investing LLC increased its stake in shares of The Hartford Insurance Group by 14,049.5% during the 1st quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock worth $1,761,930,000 after purchasing an additional 1,413,945 shares during the last quarter. Nuveen LLC bought a new position in The Hartford Insurance Group in the first quarter worth approximately $87,516,000. Bahl & Gaynor Inc. increased its holdings in shares of The Hartford Insurance Group by 47.0% in the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock valued at $264,972,000 after purchasing an additional 684,390 shares during the period. Northern Trust Corp lifted its position in shares of The Hartford Insurance Group by 11.3% in the first quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider's stock valued at $487,077,000 after acquiring an additional 398,950 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its position in The Hartford Insurance Group by 31.9% in the first quarter. AustralianSuper Pty Ltd now owns 1,600,215 shares of the insurance provider's stock valued at $197,995,000 after purchasing an additional 387,141 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 traded down $0.95 during trading hours on Monday, hitting $130.72. 1,261,302 shares of the company were exchanged, compared to its average volume of 1,626,552. The company has a market cap of $36.76 billion, a PE ratio of 11.85, a PEG ratio of 1.27 and a beta of 0.72. The firm's 50 day moving average is $127.08 and its 200-day moving average is $123.99. 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, Inc. has a 52 week low of $104.93 and a 52 week high of $135.17.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS 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 firm had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period in the prior year, the firm posted $2.50 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be given a dividend of $0.52 per share. 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%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of 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. Barclays reduced their price target on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research report on Monday, July 7th. Wall Street Zen downgraded shares of The Hartford Insurance Group from a "buy" rating to a "hold" rating in a research report on Friday. Morgan Stanley increased 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, Wells Fargo & Company raised their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Seven research 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 currently has a consensus rating of "Moderate Buy" and an average target price of $138.00.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.60% of the company's stock.

The Hartford Insurance Group 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.