The Hartford Insurance Group, Inc. $HIG Shares Bought by Woodline Partners LP

Key Points

• Woodline Partners LP significantly increased its holdings in The Hartford Insurance Group, acquiring 755,128 shares and boosting its ownership by 28,218.5% in the first quarter, bringing its total shares to 757,804.
• Analysts from firms such as Keefe, Bruyette & Woods and UBS Group have raised their target prices for The Hartford Insurance Group, indicating a positive outlook with an average price target of $138.00.
• The company recently announced a quarterly dividend of $0.52 per share, contributing to an annual payout of $2.08 with a yield of 1.6%.

Woodline Partners LP boosted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 28,218.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 757,804 shares of the insurance provider's stock after buying an additional 755,128 shares during the period. The Hartford Insurance Group makes up 0.6% of Woodline Partners LP's holdings, making the stock its 19th largest position. Woodline Partners LP owned approximately 0.27% of The Hartford Insurance Group worth $93,763,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in HIG. Northern Trust Corp lifted its position in The Hartford Insurance Group by 11.3% during the 1st quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider's stock worth $487,077,000 after acquiring an additional 398,950 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in The Hartford Insurance Group by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider's stock valued at $419,053,000 after purchasing an additional 234,320 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in The Hartford Insurance Group by 1.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider's stock valued at $434,181,000 after purchasing an additional 60,116 shares during the last quarter. Bahl & Gaynor Inc. grew its stake in The Hartford Insurance Group by 47.0% during the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock valued at $264,972,000 after purchasing an additional 684,390 shares during the last quarter. Finally, Amundi grew its stake in The Hartford Insurance Group by 27.4% during the 1st quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock valued at $239,905,000 after purchasing an additional 417,951 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Price Performance

Shares of HIG stock traded down $0.70 during mid-day trading on Friday, hitting $132.52. 1,127,441 shares of the stock were exchanged, compared to its average volume of 1,622,632. The company has a market cap of $37.26 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week 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 firm has a fifty day moving average of $127.58 and a 200 day moving average of $124.36.

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 for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The company had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The Hartford Insurance Group's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.50 EPS. Research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

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

Insider Transactions at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares of the company's stock, valued at approximately $9,580,389. This represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HIG. Raymond James Financial reiterated an "outperform" rating and set a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Keefe, Bruyette & Woods boosted their price target on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Wall Street Zen downgraded The Hartford Insurance Group from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. UBS Group boosted their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Finally, Cantor Fitzgerald assumed coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an "overweight" rating and a $152.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold 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 $138.00.

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.