Northwestern Mutual Wealth Management Co. Acquires 15,554 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in The Hartford Insurance Group by 78.6%, acquiring an additional 15,554 shares, bringing its total holdings to 35,352 shares worth approximately $4.37 million.
• The Hartford Insurance Group reported a quarterly EPS of $3.41, significantly beating the consensus estimate of $2.83, with a net margin of 11.83%.
• Institutional investors own over 93% of the company's stock, highlighting substantial investor confidence in The Hartford Insurance Group.

Northwestern Mutual Wealth Management Co. grew its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 78.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,352 shares of the insurance provider's stock after buying an additional 15,554 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in The Hartford Insurance Group were worth $4,374,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of HIG. GAMMA Investing LLC boosted its holdings in shares of The Hartford Insurance Group by 14,049.5% during the 1st quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock valued at $1,761,930,000 after buying an additional 1,413,945 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of The Hartford Insurance Group by 48.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock valued at $247,761,000 after buying an additional 735,170 shares in the last quarter. Nuveen LLC bought a new stake in shares of The Hartford Insurance Group during the 1st quarter valued at $87,516,000. Northern Trust Corp boosted its stake in The Hartford Insurance Group by 17.2% in the 4th quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock worth $387,021,000 after purchasing an additional 519,717 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new position in The Hartford Insurance Group in the 4th quarter worth about $46,271,000. Institutional investors own 93.42% of the company's stock.

Insider Buying and Selling at The Hartford Insurance Group

In other news, CFO Beth Ann Costello sold 35,340 shares of the 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 in the company, valued at $9,580,389. This represents a 31.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is owned by company insiders.

The Hartford Insurance Group Price Performance

HIG opened at $133.29 on Thursday. 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 stock has a market capitalization of $37.48 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.29 and a beta of 0.67. The company's 50-day simple moving average is $126.09 and its two-hundred day simple moving average is $122.84. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $134.93.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts predict 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. Stockholders 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 dividend payout ratio is 18.86%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HIG shares. Barclays dropped their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Morgan Stanley upped their price target on shares of 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. 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. Wells Fargo & Company upped their price target on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, 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 note on Tuesday, July 29th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $137.64.

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.

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