Northern Trust Corp Has $487.08 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Northern Trust Corp increased its stake in The Hartford Insurance Group by 11.3%, owning approximately $487 million worth of shares after acquiring an additional 398,950 shares in the 1st quarter.
• The Hartford Insurance Group reported earnings of $3.41 EPS for the latest quarter, exceeding estimates, with revenue of $6.99 billion but slightly below analyst expectations.
• The company announced a quarterly dividend of $0.52 per share, representing a 1.6% dividend yield, to be paid on October 2nd to stockholders of record.

Northern Trust Corp lifted its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 11.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,936,615 shares of the insurance provider's stock after buying an additional 398,950 shares during the period. Northern Trust Corp owned about 1.39% of The Hartford Insurance Group worth $487,077,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Marshall Wace LLP acquired a new position in The Hartford Insurance Group during the fourth quarter worth $10,501,000. MetLife Investment Management LLC increased its position in shares of The Hartford Insurance Group by 0.7% during the 4th quarter. MetLife Investment Management LLC now owns 76,718 shares of the insurance provider's stock worth $8,393,000 after purchasing an additional 538 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in The Hartford Insurance Group by 217.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 23,484 shares of the insurance provider's stock valued at $2,569,000 after purchasing an additional 16,087 shares during the last quarter. MGO One Seven LLC boosted its position in The Hartford Insurance Group by 9.1% in the fourth quarter. MGO One Seven LLC now owns 5,117 shares of the insurance provider's stock valued at $560,000 after buying an additional 428 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its stake in The Hartford Insurance Group by 84.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 19,971 shares of the insurance provider's stock worth $2,185,000 after buying an additional 9,122 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Trading Up 0.6%

HIG traded up $0.7780 during trading on Friday, reaching $133.9780. 1,459,319 shares of the company's stock were exchanged, compared to its average volume of 1,481,287. The company's fifty day moving average price is $125.64 and its 200-day moving average price is $122.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market capitalization of $37.67 billion, a PE ratio of 12.15, a P/E/G ratio of 1.30 and a beta of 0.67. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $134.94.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion for 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 quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 earnings per share. As a group, equities analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently announced 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 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 is presently 18.86%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup started coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 target price on the stock. JPMorgan Chase & Co. upped 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 report on Tuesday, July 29th. Morgan Stanley increased their price target on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Barclays lowered 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. Finally, UBS Group upped their price objective 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. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $137.64.

Insiders Place Their Bets

In other news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction on Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the transaction, the chief financial officer directly owned 77,574 shares of the company's stock, valued at $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.