OFI Invest Asset Management Invests $106,000 in The Hartford Insurance Group, Inc. $HIG

OFI Invest Asset Management purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 832 shares of the insurance provider’s stock, valued at approximately $106,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp increased its stake in shares of The Hartford Insurance Group by 11.3% during the first 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. Massachusetts Financial Services Co. MA increased its stake in shares of The Hartford Insurance Group by 1.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider’s stock worth $434,181,000 after acquiring an additional 60,116 shares during the period. Bahl & Gaynor Inc. increased its stake 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 during the period. Amundi increased its stake 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 during the period. Finally, AustralianSuper Pty Ltd increased its stake in shares of The Hartford Insurance Group by 31.9% during the first quarter. AustralianSuper Pty Ltd now owns 1,600,215 shares of the insurance provider’s stock worth $197,995,000 after acquiring an additional 387,141 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Down 1.0%

Shares of NYSE HIG opened at $128.89 on Monday. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $135.17. The company has a market capitalization of $36.24 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The firm’s 50-day moving average is $131.46 and its two-hundred day moving average is $126.37.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the firm earned $2.50 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HIG shares. Wall Street Zen upgraded shares of The Hartford Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Wolfe Research assumed coverage on shares of The Hartford Insurance Group in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a report on Thursday. Evercore ISI boosted their price objective on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Finally, Cantor Fitzgerald assumed coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The Hartford Insurance Group has an average rating of “Moderate Buy” and a consensus price target of $140.07.

Insider Activity

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Beth Ann Costello sold 35,340 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the sale, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

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.