The Hartford Insurance Group, Inc. (NYSE:HIG) Shares Bought by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. has increased its stake in The Hartford Insurance Group by 7.6%, owning 93,857 shares valued at approximately $11.59 million.
• The Hartford reported a quarterly EPS of $3.41, exceeding analysts' expectations of $2.83, with a revenue of $6.99 billion for the quarter.
• The company has announced a quarterly dividend of $0.52 per share, resulting in an annualized payout of $2.08 and a dividend yield of 1.6%.

Resona Asset Management Co. Ltd. grew its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,857 shares of the insurance provider's stock after buying an additional 6,651 shares during the period. Resona Asset Management Co. Ltd.'s holdings in The Hartford Insurance Group were worth $11,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC lifted its position in The Hartford Insurance Group by 167.8% in the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock worth $39,000 after buying an additional 198 shares during the last quarter. Sharp Financial Services LLC bought a new position in shares of The Hartford Insurance Group during the first quarter valued at approximately $260,000. Oppenheimer & Co. Inc. grew its stake in The Hartford Insurance Group by 86.7% in the first quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock worth $533,000 after purchasing an additional 2,000 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in The Hartford Insurance Group in the first quarter worth $233,000. Finally, Aurora Investment Counsel purchased a new stake in The Hartford Insurance Group in the first quarter worth $2,434,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

Wall Street Analyst Weigh In

HIG has been the topic of a number of recent research reports. Cantor Fitzgerald initiated coverage on The Hartford Insurance Group in a research note on Wednesday. They issued an "overweight" rating and a $152.00 target price on the stock. JPMorgan Chase & Co. upped 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. Wells Fargo & Company upped their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Raymond James Financial reissued an "outperform" rating and issued a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Finally, Morgan Stanley increased their target price 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. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, The Hartford Insurance Group has a consensus rating of "Moderate Buy" and a consensus price target of $137.64.

The Hartford Insurance Group Stock Down 0.5%

NYSE HIG traded down $0.60 on Friday, reaching $130.74. 2,700,466 shares of the stock traded hands, compared to its average volume of 1,471,675. 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 fifty day moving average price of $124.94 and a 200-day moving average price of $121.82. The company has a market cap of $36.76 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 1.27 and a beta of 0.67. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $132.09.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The business had revenue of $6.99 billion during 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 Hartford Insurance Group's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 EPS. As a group, research 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is presently 18.86%.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the sale, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. The trade was a 31.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.