Amundi Increases Stake in The Hartford Insurance Group, Inc. $HIG

Key Points

• Amundi increased its stake in The Hartford Insurance Group by 27.4%, acquiring an additional 417,951 shares, bringing its total to approximately 1.94 million shares valued at $239.9 million.
• Several analysts have raised their price targets for The Hartford, with Wells Fargo setting a new target of $139 and Piper Sandler increasing its target to $150, reflecting a consensus "Moderate Buy" rating among analysts.
• The Hartford's recent earnings report showed $3.41 earnings per share, surpassing analyst estimates, with a revenue increase of 7.7% compared to the previous year.

Amundi boosted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 27.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,943,498 shares of the insurance provider's stock after buying an additional 417,951 shares during the period. Amundi owned approximately 0.68% of The Hartford Insurance Group worth $239,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HIG. Northern Trust Corp increased its holdings in shares of The Hartford Insurance Group by 11.3% during the first quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider's stock valued at $487,077,000 after acquiring an additional 398,950 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in The Hartford Insurance Group by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider's stock worth $419,053,000 after purchasing an additional 234,320 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in The Hartford Insurance Group by 1.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider's stock valued at $434,181,000 after purchasing an additional 60,116 shares in the last quarter. Bahl & Gaynor Inc. raised its holdings in shares of The Hartford Insurance Group by 47.0% in the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock worth $264,972,000 after buying an additional 684,390 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake in shares of The Hartford Insurance Group by 31.9% during the first quarter. AustralianSuper Pty Ltd now owns 1,600,215 shares of the insurance provider's stock worth $197,995,000 after buying an additional 387,141 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Performance

Shares of HIG traded down $0.32 during trading hours on Wednesday, hitting $130.52. The stock had a trading volume of 237,105 shares, compared to its average volume of 1,620,189. The firm has a 50-day moving average price of $127.25 and a 200 day moving average price of $124.18. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.17. The firm has a market capitalization of $36.70 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.26 and a beta of 0.72. 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 (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping 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 posted $2.50 earnings per share. The company's revenue was up 7.7% compared to the same quarter last year. As a group, research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 18.86%.

Insider Activity at The Hartford Insurance Group

In other news, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction dated Friday, September 5th. The shares were 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 SEC, which is accessible through the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of the company'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 transaction, 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. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on HIG shares. UBS Group upped their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Raymond James Financial reissued an "outperform" rating and issued a $140.00 price objective (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Citigroup started coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 target price for the company. Barclays cut their price target on shares of 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. Finally, JPMorgan Chase & Co. raised their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, The Hartford Insurance Group currently has an average rating of "Moderate Buy" and a consensus target price of $138.00.

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.