S Bank Fund Management Ltd Acquires New Position in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• S Bank Fund Management Ltd has acquired 4,504 shares of The Hartford Insurance Group, valued at around $557,000, indicating growing institutional interest in the company.
• Recent analyst upgrades have increased price targets for The Hartford Insurance Group, with UBS raising its target to $150.00 and several analysts rating it as a "buy."
• The company recently declared a quarterly dividend of $0.52 per share, reflecting a 1.6% dividend yield and a payout ratio of 18.86%.

S Bank Fund Management Ltd acquired a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,504 shares of the insurance provider's stock, valued at approximately $557,000.

Several other institutional investors also recently made changes to their positions in HIG. GAMMA Investing LLC boosted its position in 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 worth $1,761,930,000 after purchasing an additional 1,413,945 shares during the period. Ameriprise Financial Inc. boosted its position in 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 worth $247,761,000 after purchasing an additional 735,170 shares during the period. Nuveen LLC acquired a new position in The Hartford Insurance Group in the 1st quarter worth $87,516,000. Northern Trust Corp lifted its holdings 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 buying an additional 519,717 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in The Hartford Insurance Group in the 4th quarter worth $46,271,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Down 0.5%

Shares of The Hartford Insurance Group stock traded down $0.60 during trading on Friday, reaching $130.74. The company had a trading volume of 2,700,466 shares, compared to its average volume of 1,471,675. The company has a market cap of $36.76 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. The firm's fifty day moving average is $124.94 and its 200-day moving average is $121.82. 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 Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $132.09.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data 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 Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be given a dividend of $0.52 per share. 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 dividend payout ratio is currently 18.86%.

Insider Buying and Selling at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,340 shares of the business's stock in a transaction dated 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 completion of the sale, the chief financial officer owned 77,574 shares of the company's stock, valued at $9,580,389. This represents a 31.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. UBS Group boosted their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Morgan Stanley boosted their price objective on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Wells Fargo & Company boosted their price objective on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Citigroup initiated coverage on shares of The Hartford Insurance Group in a report on Wednesday. They issued a "neutral" rating and a $138.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $137.64.

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.