Amundi Cuts Stake in The Hartford Insurance Group, Inc. $HIG

Amundi lowered its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 14.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,663,008 shares of the insurance provider’s stock after selling 280,490 shares during the period. Amundi owned approximately 0.59% of The Hartford Insurance Group worth $204,384,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Blair William & Co. IL raised its stake in shares of The Hartford Insurance Group by 2.8% during the first quarter. Blair William & Co. IL now owns 7,674 shares of the insurance provider’s stock valued at $950,000 after acquiring an additional 206 shares during the last quarter. Wealthspire Advisors LLC raised its position in The Hartford Insurance Group by 3.2% during the 1st quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider’s stock valued at $356,000 after purchasing an additional 88 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in The Hartford Insurance Group by 7.3% in the 1st quarter. Chicago Partners Investment Group LLC now owns 2,372 shares of the insurance provider’s stock worth $303,000 after buying an additional 161 shares during the period. Ontario Teachers Pension Plan Board grew its position in shares of The Hartford Insurance Group by 3.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,899 shares of the insurance provider’s stock worth $1,349,000 after buying an additional 403 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of The Hartford Insurance Group by 13.1% during the first 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 during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $129.46 on Friday. The company has a market cap of $36.07 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 1.21 and a beta of 0.63. The business’s fifty day simple moving average is $130.42 and its two-hundred day simple moving average is $128.75. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $138.64. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the previous year, the business earned $2.53 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. Research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, December 1st. This represents a $2.40 annualized dividend and a yield of 1.9%. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 19.61%.

Insider Activity

In other news, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the sale, the executive vice president directly owned 18,400 shares in the company, valued at $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on HIG shares. Wells Fargo & Company cut their price target on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Morgan Stanley lifted their target price on shares of The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Citigroup started coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 price objective on the stock. Wolfe Research started coverage on The Hartford Insurance Group in a research report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Finally, Royal Bank Of Canada assumed coverage on shares of The Hartford Insurance Group in a report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.29.

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.