The Hartford Insurance Group, Inc. $HIG Shares Bought by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd increased its stake in The Hartford Insurance Group by 51.1% in the first quarter, ending with 49,079 shares valued at about $6.6 million.
• The Hartford reported Q1 earnings of $3.09 per share, missing analyst estimates, while revenue came in at $7.23 billion versus expectations of $7.41 billion. Despite the miss, revenue still rose 6.1% year over year.
• The company declared a quarterly dividend of $0.60 per share, equal to a 1.7% yield. Shares were trading around $140.54, and analysts currently have a consensus rating of Hold with a target price of $148.75.

Mediolanum International Funds Ltd lifted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 51.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 49,079 shares of the insurance provider's stock after acquiring an additional 16,605 shares during the period. Mediolanum International Funds Ltd's holdings in The Hartford Insurance Group were worth $6,598,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of The Hartford Insurance Group in the first quarter valued at approximately $207,000. NewEdge Advisors LLC grew its holdings in The Hartford Insurance Group by 1.6% in the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider's stock worth $7,122,000 after buying an additional 886 shares in the last quarter. Treasurer of the State of North Carolina increased its position in The Hartford Insurance Group by 3.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider's stock valued at $21,297,000 after acquiring an additional 6,285 shares during the period. HUB Investment Partners LLC increased its position in The Hartford Insurance Group by 9.8% in the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider's stock valued at $878,000 after acquiring an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in The Hartford Insurance Group by 25.5% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider's stock valued at $24,488,000 after acquiring an additional 39,220 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares of the company's stock, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company's stock.

The Hartford Insurance Group Trading Up 0.2%

The Hartford Insurance Group stock opened at $140.54 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market cap of $38.53 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 3.81 and a beta of 0.47. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $144.50. The firm's 50 day moving average price is $133.21 and its two-hundred day moving average price is $135.39.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The company had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The Hartford Insurance Group's revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. On average, research analysts predict that The Hartford Insurance Group, Inc. will post 12.74 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group's payout ratio is presently 16.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HIG shares. Piper Sandler restated a "neutral" rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Wells Fargo & Company increased their target price on shares of The Hartford Insurance Group from $154.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. raised their target price on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a "neutral" rating in a research note on Monday. UBS Group dropped their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, April 27th. Finally, Bank of America increased their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a report on Tuesday, April 14th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, The Hartford Insurance Group presently has an average rating of "Hold" and a consensus price target of $148.75.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

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