The Hartford Insurance Group, Inc. $HIG Shares Acquired by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. increased its stake in The Hartford Insurance Group by 33.9%, owning a total of 37,772 shares valued at $4,674,000 as of their latest SEC filing.
• The Hartford Insurance Group reported earnings per share of $3.41 for the last quarter, exceeding estimates of $2.83, with a year-over-year revenue growth of 7.7%.
• The company declared a quarterly dividend of $0.52 per share, with an annualized dividend yield of 1.6%, indicating a payout ratio of 18.86%.

Northwest & Ethical Investments L.P. grew its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 33.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,772 shares of the insurance provider's stock after purchasing an additional 9,569 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in The Hartford Insurance Group were worth $4,674,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC boosted its position in The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after acquiring an additional 155 shares during the last quarter. Spurstone Advisory Services LLC acquired a new position in The Hartford Insurance Group during the fourth quarter worth about $33,000. Center for Financial Planning Inc. acquired a new position in The Hartford Insurance Group during the first quarter worth about $33,000. Itau Unibanco Holding S.A. acquired a new position in The Hartford Insurance Group during the fourth quarter worth about $35,000. Finally, Meeder Asset Management Inc. boosted its position in The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after acquiring an additional 161 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock opened at $130.74 on Monday. The company's 50 day simple moving average is $124.94 and its 200-day simple moving average is $121.87. The company has a market capitalization 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 Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $132.09. 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 released its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The business had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The business's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.50 EPS. As a group, equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

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 paid 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 18.86%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price target on shares of 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. Morgan Stanley lifted their target price on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Wells Fargo & Company lifted their target price on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Finally, Barclays reduced their target price on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, The Hartford Insurance Group currently has an average rating of "Moderate Buy" and an average price target of $137.64.

Insider Activity

In other news, CFO Beth Ann Costello sold 35,340 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 77,574 shares of the company's stock, valued at approximately $9,580,389. The trade was a 31.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.60% of the company's stock.

The Hartford Insurance Group 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.

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