Flputnam Investment Management Co. Acquires Shares of 35,101 The Hartford Insurance Group, Inc. $HIG

Key Points

• Flputnam Investment Management acquired 35,101 shares of The Hartford Insurance Group in the second quarter, valued at approximately $4.65 million. Institutional investors collectively own 93.42% of HIG’s outstanding shares.
• The Hartford reported quarterly earnings of $3.42 per share, exceeding estimates of $3.16, while revenue rose 8.1% year over year to $7.26 billion.
• The company declared a quarterly dividend of $0.60 per share, equivalent to a $2.40 annualized payout and a 1.7% yield. Analysts’ consensus rating remains Hold, with an average price target of $149.67 versus a recent share price of $138.02.

Flputnam Investment Management Co. bought a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 35,101 shares of the insurance provider's stock, valued at approximately $4,652,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $4,131,000. Abacus Wealth Partners LLC acquired a new stake in shares of The Hartford Insurance Group in the 4th quarter valued at about $1,971,000. Strs Ohio grew its stake in The Hartford Insurance Group by 4.7% during the 1st quarter. Strs Ohio now owns 199,619 shares of the insurance provider's stock worth $26,994,000 after buying an additional 8,890 shares during the last quarter. Arbejdsmarkedets Tillaegspension increased its position in The Hartford Insurance Group by 4.6% during the first quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider's stock worth $25,303,000 after buying an additional 8,250 shares during the period. Finally, SEB Asset Management AB purchased a new stake in The Hartford Insurance Group in the first quarter valued at approximately $69,310,000. Institutional investors and hedge funds own 93.42% of the company's stock.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.

The Hartford Insurance Group Stock Up 0.0%

Shares of NYSE HIG opened at $138.02 on Monday. The Hartford Insurance Group, Inc. has a 12-month low of $120.33 and a 12-month high of $146.07. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The firm's 50-day moving average is $136.70 and its two-hundred day moving average is $136.48. The company has a market capitalization of $37.39 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 3.39 and a beta of 0.46.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating analysts' consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The firm had revenue of $7.26 billion for the quarter, compared to analysts' expectations of $7.17 billion. During the same quarter in the prior year, the firm earned $3.41 EPS. The Hartford Insurance Group's quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 15.51%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cantor Fitzgerald increased their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Wells Fargo & Company reduced their price objective on The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, July 27th. Zacks Research cut The Hartford Insurance Group from a "hold" rating to a "strong sell" rating in a research report on Monday, July 27th. Weiss Ratings downgraded The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. increased their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $149.67.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

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