US Bancorp DE Has $14.51 Million Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• US Bancorp DE has reduced its stake in The Hartford Insurance Group by 9.5%, currently holding 114,333 shares valued at approximately $14.51 million as of the end of the 2nd quarter.
• Equities analysts have issued varied ratings and adjusted price targets for The Hartford, with a consensus rating of "Moderate Buy" and average target price around $140.07.
• The company recently announced a quarterly dividend of $0.52 per share, resulting in a 1.6% dividend yield, with a payout ratio of 18.86%.

US Bancorp DE decreased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 9.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,333 shares of the insurance provider's stock after selling 12,019 shares during the period. US Bancorp DE's holdings in The Hartford Insurance Group were worth $14,506,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in HIG. Woodline Partners LP increased its position in shares of The Hartford Insurance Group by 28,218.5% during the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider's stock worth $93,763,000 after acquiring an additional 755,128 shares in the last quarter. Nuveen LLC bought a new stake in shares of The Hartford Insurance Group during the first quarter worth $87,516,000. Bahl & Gaynor Inc. increased its position in shares of The Hartford Insurance Group by 47.0% during the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock worth $264,972,000 after acquiring an additional 684,390 shares in the last quarter. Amundi increased its position in shares of The Hartford Insurance Group by 27.4% during the first quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock worth $239,905,000 after acquiring an additional 417,951 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of The Hartford Insurance Group by 38.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,493,077 shares of the insurance provider's stock worth $189,427,000 after acquiring an additional 414,216 shares in the last quarter. Institutional investors own 93.42% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HIG shares. Morgan Stanley increased their price objective on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 7th. Cantor Fitzgerald began coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 target price for the company. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of The Hartford Insurance Group in a research report on Wednesday. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of "Moderate Buy" and an average target price of $140.07.

Insider Activity at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

The Hartford Insurance Group Price Performance

Shares of The Hartford Insurance Group stock opened at $128.89 on Friday. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17. 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 company has a 50-day simple moving average of $131.46 and a two-hundred day simple moving average of $126.35. The stock has a market capitalization of $36.24 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.24 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The business had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. During the same quarter in the previous year, the company earned $2.50 EPS. The business's revenue was up 7.7% on a year-over-year basis. Analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

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

About The Hartford Insurance Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.