Point72 Europe London LLP Invests $3.71 Million in The Hartford Insurance Group, Inc. $HIG

Key Points

• Point72 Europe London LLP acquired a new stake in The Hartford Insurance Group, purchasing 29,950 shares valued at approximately $3.7 million in the first quarter.
• The Hartford reported earnings of $3.41 per share, exceeding the consensus estimate, along with a quarterly dividend of $0.52, yielding 1.6%.
• Analysts are optimistic about The Hartford, with target prices increasing; the average price target is now $137.64 and several analysts have rated the stock as a "Moderate Buy."

Point72 Europe London LLP bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 29,950 shares of the insurance provider's stock, valued at approximately $3,706,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Park Square Financial Group LLC increased its position in shares of 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 worth $32,000 after purchasing an additional 155 shares in the last quarter. Center for Financial Planning Inc. purchased a new position in The Hartford Insurance Group during the 1st quarter worth approximately $33,000. Meeder Asset Management Inc. grew its stake in shares of The Hartford Insurance Group by 123.8% in 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 during the last quarter. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Insurance Group in the 4th quarter valued at approximately $33,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of The Hartford Insurance Group in the first quarter valued at approximately $37,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Piper Sandler upped their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an "overweight" rating in a research report on Tuesday. Wall Street Zen raised The Hartford Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Wells Fargo & Company lifted their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Cantor Fitzgerald assumed coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an "overweight" rating and a $152.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, The Hartford Insurance Group presently has a consensus rating of "Moderate Buy" and an average price target of $138.00.

The Hartford Insurance Group Stock Up 0.8%

NYSE HIG traded up $1.10 on Wednesday, reaching $133.01. The stock had a trading volume of 1,224,516 shares, compared to its average volume of 1,220,610. The business has a 50 day moving average price of $126.57 and a 200 day moving average price of $123.49. 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, Inc. has a 1 year low of $104.93 and a 1 year high of $134.93. The company has a market capitalization of $37.40 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.28 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.58. The business had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.50 EPS. On average, analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 18.86%.

Insider Activity

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 sale, the chief financial officer owned 77,574 shares of the company's stock, valued at approximately $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.

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.