Raiffeisen Bank International AG Decreases Stock Position in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Raiffeisen Bank International AG reduced its stake in The Hartford Insurance Group by 35.9%, holding 9,796 shares valued at approximately $1.2 million as of the most recent SEC filing.
• The Hartford Insurance Group reported an EPS of $3.41 for the last quarter, exceeding analysts’ expectations of $2.83, while also achieving a revenue of $6.99 billion.
• Recently, The Hartford announced a quarterly dividend of $0.52, which represents an annual yield of 1.6%, set to be paid on October 2nd.

Raiffeisen Bank International AG lowered its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 35.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,796 shares of the insurance provider's stock after selling 5,478 shares during the period. Raiffeisen Bank International AG's holdings in The Hartford Insurance Group were worth $1,197,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Park Square Financial Group LLC increased its holdings in shares of The Hartford Insurance Group by 146.2% in the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after buying an additional 155 shares during the period. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Insurance Group in the fourth quarter worth about $33,000. Center for Financial Planning Inc. purchased a new position in The Hartford Insurance Group during the 1st quarter valued at about $33,000. Itau Unibanco Holding S.A. purchased a new position in The Hartford Insurance Group during the 4th quarter valued at about $35,000. Finally, Meeder Asset Management Inc. increased its holdings 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 during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Up 2.6%

HIG stock opened at $126.21 on Tuesday. The Hartford Insurance Group, Inc. has a fifty-two week low of $103.96 and a fifty-two week high of $132.09. The business's 50 day moving average price is $125.00 and its two-hundred day moving average price is $120.83. 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 company has a market capitalization of $35.49 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.22 and a beta of 0.67.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%. The firm had revenue of $6.99 billion for the quarter, compared to analysts' expectations of $7.02 billion. During the same period in the previous year, the firm posted $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 forecast 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 business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is currently 18.86%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HIG shares. Morgan Stanley boosted their price target on The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Barclays reduced their price target on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. Jefferies Financial Group reduced their price target on The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. boosted their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods boosted their price target on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a report on Monday. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $136.42.

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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