The Hartford Insurance Group, Inc. $HIG Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its holdings in The Hartford Insurance Group by 29.2%, selling 7,079 shares, bringing its total to 17,151 shares valued at approximately $2,122,000.
• The Hartford Insurance Group recently reported a quarterly earnings per share of $3.41, surpassing analyst expectations by $0.58, despite revenue falling short of 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.

Gulf International Bank UK Ltd lessened its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 29.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,151 shares of the insurance provider's stock after selling 7,079 shares during the quarter. Gulf International Bank UK Ltd's holdings in The Hartford Insurance Group were worth $2,122,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HIG. Park Square Financial Group LLC boosted its stake in The Hartford Insurance Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after purchasing an additional 155 shares in the last quarter. Center for Financial Planning Inc. bought a new stake in The Hartford Insurance Group in the 1st quarter worth about $33,000. Meeder Asset Management Inc. lifted its stake in The Hartford Insurance Group by 123.8% during the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 161 shares during the period. Spurstone Advisory Services LLC purchased a new stake in shares of The Hartford Insurance Group during the 4th quarter valued at about $33,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of The Hartford Insurance Group in the first quarter worth $37,000. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Stock Up 0.7%

NYSE HIG traded up $0.9460 on Tuesday, hitting $130.7060. The stock had a trading volume of 236,857 shares, compared to its average volume of 1,645,083. The business's fifty day moving average price is $125.00 and its 200 day moving average price is $122.00. The stock has a market cap of $36.75 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $132.09. 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 (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $7.02 billion. During the same quarter in the previous year, the firm posted $2.50 EPS. The firm's revenue was up 7.7% compared to the same quarter last year. Equities research 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 declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders 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 yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 18.86%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HIG shares. Morgan Stanley lifted their price objective on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. UBS Group raised their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, August 4th. JPMorgan Chase & Co. lifted their price target on shares of 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. Citigroup initiated coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their target price on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $137.64.

Insider Buying and Selling at The Hartford Insurance Group

In other 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 value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.