Generali Asset Management SPA SGR Raises Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Generali Asset Management SPA SGR increased its stake in The Hartford Insurance Group by 21.5%, acquiring a total of 48,427 shares valued at approximately $6.14 million.
• Wall Street analysts have raised their price targets for The Hartford Insurance Group, with the average target now at $140.07 and a consensus rating of "Moderate Buy."
• The Hartford Insurance Group reported $3.41 EPS for its last quarter, exceeding expectations, while also declaring a quarterly dividend of $0.52.

Generali Asset Management SPA SGR increased its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 21.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,427 shares of the insurance provider's stock after purchasing an additional 8,567 shares during the quarter. Generali Asset Management SPA SGR's holdings in The Hartford Insurance Group were worth $6,144,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in HIG. Golden State Wealth Management LLC lifted its position in The Hartford Insurance Group by 167.8% during the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 198 shares during the period. Sharp Financial Services LLC purchased a new position in shares of The Hartford Insurance Group in the 1st quarter worth about $260,000. Oppenheimer & Co. Inc. raised its holdings in The Hartford Insurance Group by 86.7% in the first quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock worth $533,000 after buying an additional 2,000 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in The Hartford Insurance Group in the first quarter worth about $233,000. Finally, Aurora Investment Counsel purchased a new position in The Hartford Insurance Group in the first quarter worth about $2,434,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on HIG shares. Keefe, Bruyette & Woods boosted their price objective on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. UBS Group boosted their price objective on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Piper Sandler boosted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Wolfe Research assumed coverage on The Hartford Insurance Group in a research note on Tuesday, September 16th. They issued a "peer perform" rating for the company. Finally, Cantor Fitzgerald assumed coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $140.07.

The Hartford Insurance Group Stock Down 1.9%

The Hartford Insurance Group stock opened at $128.67 on Thursday. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17. The stock has a fifty day moving average of $131.58 and a 200 day moving average of $126.47. 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 stock has a market cap of $36.18 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.27 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (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 analysts' expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $2.50 earnings per share. As a group, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd were issued a $0.52 dividend. The ex-dividend date of this dividend was 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 (DPR) is presently 18.86%.

Insider Buying and Selling

In other news, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction on 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 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. Company insiders own 1.50% of the company's stock.

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.

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