Norinchukin Bank The Acquires 2,062 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Norinchukin Bank increased its holdings in The Hartford Insurance Group by 15.3% in Q1, acquiring an additional 2,062 shares, bringing its total to 15,577 shares valued at approximately $1.93 million.
• The Hartford reported $3.41 EPS for the last quarter, significantly exceeding analysts' estimates of $2.83, while its total revenue was $6.99 billion, slightly below the anticipated $7.02 billion.
• The firm announced a quarterly dividend of $0.52, giving it an annualized yield of 1.6% and a payout ratio of 18.86%.

Norinchukin Bank The increased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 15.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,577 shares of the insurance provider's stock after acquiring an additional 2,062 shares during the quarter. Norinchukin Bank The's holdings in The Hartford Insurance Group were worth $1,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of HIG. Park Square Financial Group LLC increased its stake in shares of 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 acquiring an additional 155 shares in the last quarter. Spurstone Advisory Services LLC bought a new stake in The Hartford Insurance Group during the 4th quarter valued at about $33,000. Center for Financial Planning Inc. bought a new stake in The Hartford Insurance Group during the 1st quarter valued at about $33,000. Itau Unibanco Holding S.A. bought a new stake in The Hartford Insurance Group during the 4th quarter valued at about $35,000. Finally, Meeder Asset Management Inc. increased 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 purchasing an additional 161 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Stock Performance

Shares of NYSE HIG opened at $133.9780 on Friday. The firm's 50-day moving average price is $125.64 and its 200-day moving average price is $122.44. 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 company has a market cap of $37.67 billion, a PE ratio of 12.15, a PEG ratio of 1.29 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 $134.94.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The firm had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.50 EPS. As a group, analysts anticipate 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 will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be issued a $0.52 dividend. The ex-dividend date of this dividend is 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%.

Analysts Set New Price Targets

A number of analysts have weighed in on HIG shares. Citigroup started coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price objective for the company. Cantor Fitzgerald started coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an "overweight" rating and a $152.00 price objective for the company. Barclays reduced their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Keefe, Bruyette & Woods raised their price objective on shares of 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. Finally, Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of "Moderate Buy" and an average target price of $137.64.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction that occurred 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 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 SEC, which can be accessed through this link. 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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