MUFG Securities EMEA plc Increases Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• MUFG Securities EMEA plc increased its stake in The Hartford Insurance Group by 1,221.5% in the fourth quarter, buying 65,741 additional shares and bringing its total holdings to 71,123 shares worth about $9.8 million.
• The Hartford reported Q1 earnings of $3.09 per share, missing analyst estimates of $3.39, though revenue rose 6.1% year over year to $7.23 billion.
• The company declared a quarterly dividend of $0.60 per share payable July 2, while analysts remain generally positive with a Moderate Buy consensus and an average target price of $149.31.

MUFG Securities EMEA plc lifted its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 1,221.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,123 shares of the insurance provider's stock after buying an additional 65,741 shares during the period. MUFG Securities EMEA plc's holdings in The Hartford Insurance Group were worth $9,801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC lifted its stake in shares of The Hartford Insurance Group by 42.3% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,915 shares of the insurance provider's stock worth $677,000 after buying an additional 1,460 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of The Hartford Insurance Group by 23.4% in the fourth quarter. BNP Paribas Financial Markets now owns 659,088 shares of the insurance provider's stock worth $90,822,000 after buying an additional 124,997 shares in the last quarter. Impact Partnership Wealth LLC lifted its stake in shares of The Hartford Insurance Group by 44.0% in the fourth quarter. Impact Partnership Wealth LLC now owns 10,094 shares of the insurance provider's stock worth $1,391,000 after buying an additional 3,083 shares in the last quarter. Forsta AP Fonden lifted its stake in shares of The Hartford Insurance Group by 4.2% in the fourth quarter. Forsta AP Fonden now owns 170,300 shares of the insurance provider's stock worth $23,467,000 after buying an additional 6,900 shares in the last quarter. Finally, Norges Bank bought a new position in shares of The Hartford Insurance Group in the fourth quarter worth approximately $611,724,000. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Up 0.1%

HIG opened at $127.29 on Monday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50. The company has a market capitalization of $34.89 billion, a PE ratio of 8.95, a PEG ratio of 2.28 and a beta of 0.47. The firm's 50 day simple moving average is $135.47 and its two-hundred day simple moving average is $136.04.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the previous year, the business posted $2.20 earnings per share. The firm's revenue was up 6.1% on a year-over-year basis. As a group, equities analysts forecast that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be given a $0.60 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.9%. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 16.87%.

Insider Activity at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the transaction, the executive vice president owned 25,392 shares in the company, valued at $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HIG. Barclays dropped their target price on shares of The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating on the stock in a research note on Friday, April 24th. Wells Fargo & Company upped their target price on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Mizuho upped their target price on shares of The Hartford Insurance Group from $158.00 to $159.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. UBS Group lowered their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, April 27th. Finally, Citigroup increased their price objective on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a "neutral" rating in a research report on Wednesday, February 4th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $149.31.

About The Hartford Insurance Group

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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