The Hartford Insurance Group, Inc. $HIG Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in The Hartford Insurance Group by 11.0%, now holding shares worth $4.67 million.
• The Hartford Insurance Group reported earnings of $3.41 per share for the last quarter, surpassing estimates of $2.83, and has a **dividend yield** of 1.6% with a quarterly dividend of $0.52.
• Analysts have a consensus rating of "Hold" for The Hartford, with a target price averaging $138.00, while various institutions have significantly increased their stakes in the company.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 11.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,816 shares of the insurance provider's stock after buying an additional 3,658 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in The Hartford Insurance Group were worth $4,671,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in HIG. NorthRock Partners LLC lifted its stake in shares of The Hartford Insurance Group by 2.6% in the 1st quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider's stock valued at $395,000 after purchasing an additional 80 shares in the last quarter. Wayfinding Financial LLC lifted its stake in shares of The Hartford Insurance Group by 3.0% in the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider's stock valued at $355,000 after purchasing an additional 84 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in shares of The Hartford Insurance Group by 3.2% in the 1st quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider's stock valued at $356,000 after purchasing an additional 88 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of The Hartford Insurance Group by 29.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 400 shares of the insurance provider's stock valued at $51,000 after purchasing an additional 91 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of The Hartford Insurance Group by 1.7% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 5,580 shares of the insurance provider's stock valued at $690,000 after purchasing an additional 95 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Performance

HIG stock traded down $0.51 during trading on Friday, reaching $130.90. 3,393,639 shares of the company's stock were exchanged, compared to its average volume of 1,331,511. The company has a quick ratio of 0.31, a current 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 $135.17. The company's fifty day moving average price is $128.62 and its 200-day moving average price is $124.97. The firm has a market cap of $36.81 billion, a PE ratio of 11.87, a P/E/G ratio of 1.27 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (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 company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the previous year, the firm posted $2.50 EPS. The firm's quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders 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 yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is 18.86%.

Analysts Set New Price Targets

Several equities analysts recently commented on HIG shares. Raymond James Financial reissued an "outperform" rating and set a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Piper Sandler boosted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Wolfe Research started coverage on The Hartford Insurance Group in a research report on Tuesday, September 16th. They set a "peer perform" rating on the stock. UBS Group boosted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company boosted their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $138.00.

Insiders Place Their Bets

In other news, EVP Donald Christian Hunt sold 2,124 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer owned 77,574 shares of the company's stock, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

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.