Principal Financial Group Inc. Raises Stock Holdings in The Hartford Insurance Group, Inc. (NYSE:HIG)

Principal Financial Group Inc. lifted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 357,885 shares of the insurance provider's stock after purchasing an additional 11,347 shares during the quarter. Principal Financial Group Inc. owned 0.12% of The Hartford Insurance Group worth $44,281,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Spurstone Advisory Services LLC acquired a new stake in shares of The Hartford Insurance Group in the fourth quarter valued at approximately $33,000. Center for Financial Planning Inc. bought a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $33,000. Itau Unibanco Holding S.A. bought a new stake in shares of The Hartford Insurance Group during the 4th quarter valued at about $35,000. Flagship Wealth Advisors LLC acquired a new position in The Hartford Insurance Group during the 4th quarter worth approximately $36,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of The Hartford Insurance Group in the first quarter worth approximately $37,000. Institutional investors and hedge funds own 93.42% of the company's stock.

Insider Buying and Selling

In related news, SVP Allison G. Niderno sold 1,086 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $119.42, for a total transaction of $129,690.12. Following the completion of the transaction, the senior vice president directly owned 622 shares of the company's stock, valued at approximately $74,279.24. This represents a 63.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company's stock.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock traded down $0.11 during mid-day trading on Thursday, reaching $121.76. 1,589,377 shares of the stock traded hands, compared to its average volume of 1,594,592. The stock has a market capitalization of $34.59 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.18 and a beta of 0.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a 12-month low of $99.53 and a 12-month high of $132.09. The business's 50-day moving average is $126.94 and its 200-day moving average is $119.05.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.97 billion. The Hartford Insurance Group had a return on equity of 18.73% and a net margin of 11.10%. The Hartford Insurance Group's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.34 earnings per share. As a group, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Monday, June 2nd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Monday, June 2nd. The Hartford Insurance Group's payout ratio is presently 20.74%.

Analyst Upgrades and Downgrades

HIG has been the subject of several research reports. Wells Fargo & Company increased their price objective on The Hartford Insurance Group from $134.00 to $138.00 and gave the company an "overweight" rating in a report on Thursday. UBS Group raised their price target on The Hartford Insurance Group from $142.00 to $145.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays cut their price target on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a report on Monday. Piper Sandler raised their price target on The Hartford Insurance Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Finally, Wall Street Zen raised The Hartford Insurance Group from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $133.67.

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.