The Hartford Insurance Group, Inc. $HIG Shares Bought by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. dramatically increased its stake in The Hartford Insurance Group, making the insurer its 4th largest holding and giving it about 26.5% ownership of the company.
• The Hartford reported Q1 earnings of $3.09 per share, missing analyst expectations, even though revenue came in at $14.45 billion and rose 6.1% year over year.
• Wall Street remains cautiously positive on HIG, with a Moderate Buy consensus and a $149.31 average price target; the company also pays a quarterly dividend yielding about 1.8%.

Northwestern Mutual Wealth Management Co. raised its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 286,241.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,861,771 shares of the insurance provider's stock after purchasing an additional 73,835,976 shares during the quarter. The Hartford Insurance Group accounts for 5.0% of Northwestern Mutual Wealth Management Co.'s portfolio, making the stock its 4th largest position. Northwestern Mutual Wealth Management Co. owned approximately 26.51% of The Hartford Insurance Group worth $10,178,152,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in The Hartford Insurance Group during the first quarter worth about $207,000. NewEdge Advisors LLC raised its position in shares of The Hartford Insurance Group by 1.6% during the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider's stock worth $7,122,000 after purchasing an additional 886 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in shares of The Hartford Insurance Group by 3.9% in the second 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 in the last quarter. HUB Investment Partners LLC boosted its stake in The Hartford Insurance Group by 9.8% during the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider's stock worth $878,000 after purchasing an additional 619 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in The Hartford Insurance Group by 25.5% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider's stock worth $24,488,000 after acquiring an additional 39,220 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Trading Down 0.2%

NYSE:HIG opened at $134.02 on Friday. The stock's 50 day moving average price is $135.86 and its 200 day moving average price is $135.41. The company has a market capitalization of $36.74 billion, a PE ratio of 9.42, a P/E/G ratio of 2.41 and a beta of 0.50. The Hartford Insurance Group, Inc. has a 52-week low of $119.61 and a 52-week high of $144.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $14.45 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the company earned $2.20 EPS. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts anticipate that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Monday, March 2nd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 16.87%.

Wall Street Analyst Weigh In

HIG has been the subject of several analyst reports. Weiss Ratings restated a "buy (a-)" rating on shares of The Hartford Insurance Group in a report on Wednesday. Barclays dropped their price objective on The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating for the company in a research note on Friday, April 24th. Morgan Stanley increased their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 3rd. Mizuho increased their price target on The Hartford Insurance Group from $158.00 to $159.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company lifted their price objective on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $149.31.

Insider Activity at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the sale, the executive vice president owned 25,392 shares of the company's stock, valued at $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

The Hartford Insurance Group 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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