Meiji Yasuda Asset Management Co Ltd. Purchases 19,320 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Meiji Yasuda Asset Management has increased its stake in The Hartford Insurance Group by 132.7%, acquiring 19,320 additional shares, bringing its total holdings to 33,877 shares valued at approximately $4.19 million.
• The Hartford Insurance Group reported earnings of $3.41 per share, exceeding analysts' expectations of $2.83, with quarterly revenue rising by 7.7% year-over-year to $6.99 billion.
• The company has announced a quarterly dividend of $0.52 per share, translating to an annual yield of 1.6%, with a payout ratio of 18.86%.

Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 132.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,877 shares of the insurance provider's stock after buying an additional 19,320 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in The Hartford Insurance Group were worth $4,192,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Park Square Financial Group LLC increased its position in shares of The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after buying an additional 155 shares during the period. Center for Financial Planning Inc. acquired a new stake in shares of The Hartford Insurance Group during the first quarter worth $33,000. Meeder Asset Management Inc. increased its position in shares of The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after buying an additional 161 shares during the period. Spurstone Advisory Services LLC acquired a new stake in shares of The Hartford Insurance Group during the fourth quarter worth $33,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of The Hartford Insurance Group during the first quarter worth $37,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction 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 transaction, the chief financial officer directly owned 77,574 shares of the company's stock, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm's 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 disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased 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 research report on Monday, August 4th. UBS Group increased their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Raymond James Financial reiterated an "outperform" rating and set a $140.00 price objective (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Piper Sandler raised their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Finally, Barclays reduced their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $138.00.

The Hartford Insurance Group Stock Down 0.5%

NYSE:HIG traded down $0.70 during trading hours on Friday, reaching $132.52. The company had a trading volume of 1,127,441 shares, compared to its average volume of 1,622,632. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The firm has a market cap of $37.26 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 1.27 and a beta of 0.72. The business's 50-day simple moving average is $127.58 and its two-hundred day simple moving average is $124.36. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17.

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

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be paid 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 of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is 18.86%.

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.