National Bank of Canada FI Sells 138,547 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• National Bank of Canada FI has reduced its holdings in The Hartford Insurance Group by 37.1% during the first quarter, now owning approximately 0.08% of the company, valued at $29.12 million.
• Several institutional investors have increased their stakes, most notably GAMMA Investing LLC, which raised its position by 14,049.5%, now owning 1.42 million shares worth approximately $1.76 billion.
• The Hartford Insurance Group recently announced a quarterly dividend of $0.52 per share, with an annualized yield of 1.6%, and is expected to post earnings per share of 11.11 for the current year.

National Bank of Canada FI lowered its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 37.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 235,372 shares of the insurance provider's stock after selling 138,547 shares during the period. National Bank of Canada FI owned 0.08% of The Hartford Insurance Group worth $29,122,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Citigroup Inc. boosted its holdings in shares of The Hartford Insurance Group by 4.6% during the 1st quarter. Citigroup Inc. now owns 325,722 shares of the insurance provider's stock valued at $40,302,000 after buying an additional 14,367 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of The Hartford Insurance Group by 13.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 526,867 shares of the insurance provider's stock valued at $65,189,000 after buying an additional 61,176 shares in the last quarter. Keynote Financial Services LLC bought a new stake in shares of The Hartford Insurance Group during the 1st quarter valued at $451,000. Ontario Teachers Pension Plan Board boosted its holdings in shares of The Hartford Insurance Group by 3.8% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,899 shares of the insurance provider's stock valued at $1,349,000 after buying an additional 403 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of The Hartford Insurance Group by 7.3% during the 1st quarter. Chicago Partners Investment Group LLC now owns 2,372 shares of the insurance provider's stock valued at $303,000 after buying an additional 161 shares in the last quarter. Institutional investors own 93.42% of the company's stock.

Analyst Ratings Changes

HIG has been the subject of several recent analyst reports. UBS Group lifted their price target on 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. Barclays lowered their price target on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research report on Monday, July 7th. Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their price target on 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. Finally, Morgan Stanley boosted their target price on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and an average price target of $137.64.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock traded down $0.09 during trading hours on Friday, reaching $131.25. 334,469 shares of the stock traded hands, compared to its average volume of 1,643,192. The company has a 50 day moving average price of $124.91 and a 200 day moving average price of $121.64. The firm has a market capitalization of $36.90 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 1.28 and a beta of 0.67. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $132.09. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25.

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 during the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.50 EPS. On average, equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The Hartford Insurance Group's payout ratio is 18.86%.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,340 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. The trade was a 31.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.50% of the company's stock.

The Hartford Insurance Group Company 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.