USS Investment Management Ltd Boosts Stake in The Hartford Insurance Group, Inc. $HIG

USS Investment Management Ltd boosted its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 9.2% in the 1st quarter, Holdings Channel reports. The firm owned 47,513 shares of the insurance provider’s stock after buying an additional 4,017 shares during the quarter. USS Investment Management Ltd’s holdings in The Hartford Insurance Group were worth $6,426,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after buying an additional 73,835,976 shares during the last quarter. Norges Bank bought a new stake in shares of The Hartford Insurance Group during the 4th quarter worth approximately $611,724,000. Allianz Asset Management GmbH boosted its holdings in The Hartford Insurance Group by 131.1% during the 4th quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider’s stock valued at $224,901,000 after acquiring an additional 925,789 shares during the period. Danske Bank A S bought a new position in The Hartford Insurance Group in the 3rd quarter valued at $91,398,000. Finally, Balyasny Asset Management L.P. grew its position in The Hartford Insurance Group by 6,431.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock valued at $85,829,000 after acquiring an additional 633,592 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.

The Hartford Insurance Group Trading Up 2.7%

Shares of NYSE HIG opened at $137.52 on Friday. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50. The business has a fifty day moving average price of $132.49 and a 200 day moving average price of $135.43. The stock has a market capitalization of $37.70 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 2.45 and a beta of 0.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The company had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The Hartford Insurance Group’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.20 EPS. Equities research analysts expect that The Hartford Insurance Group, Inc. will post 12.9 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 1st were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, June 1st. The Hartford Insurance Group’s payout ratio is 16.87%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. UBS Group cut their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Barclays reduced their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Wells Fargo & Company lowered their price objective on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Finally, Mizuho reduced their target price on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group has an average rating of “Moderate Buy” and a consensus price target of $147.31.

About The Hartford Insurance Group

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.