MUFG Securities EMEA plc Purchases New Position in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• MUFG Securities EMEA plc acquired a new stake in The Hartford Insurance Group, purchasing 21,999 shares valued at approximately $2.72 million during the 1st quarter of the fiscal year.
• The Hartford Insurance Group reported an earnings per share (EPS) of $3.41 for the last quarter, exceeding analysts' expectations of $2.83, alongside a 7.7% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.52 per share, with a dividend yield of 1.6%, to be paid on October 2nd.

MUFG Securities EMEA plc acquired a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,999 shares of the insurance provider's stock, valued at approximately $2,722,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HIG. Park Square Financial Group LLC raised its position in 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 valued at $32,000 after purchasing an additional 155 shares during the period. Spurstone Advisory Services LLC purchased a new stake in shares of The Hartford Insurance Group in the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. purchased a new stake in shares of The Hartford Insurance Group in the first quarter worth approximately $33,000. Itau Unibanco Holding S.A. purchased a new stake in shares of The Hartford Insurance Group in the fourth quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of The Hartford Insurance Group by 123.8% in 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. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Performance

Shares of NYSE HIG traded up $0.71 during trading on Tuesday, reaching $129.05. 927,559 shares of the company traded hands, compared to its average volume of 1,660,093. The firm's fifty day simple moving average is $124.81 and its 200 day simple moving average is $121.41. The stock has a market cap of $36.28 billion, a P/E ratio of 11.70, a PEG ratio of 1.26 and a beta of 0.67. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $132.09. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The business had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%. The company's revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $2.50 EPS. As a group, research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is currently 18.86%.

Insider Buying and Selling at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group 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 completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at $9,580,389. The trade was a 31.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HIG. UBS Group increased their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Morgan Stanley increased their price objective on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Barclays dropped their target price on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research report on Monday, July 7th. Raymond James Financial reissued an "outperform" rating and issued a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Finally, Wells Fargo & Company raised their price objective on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.42.

The Hartford Insurance Group Company 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.