Axa S.A. Boosts Holdings in The Hartford Insurance Group, Inc. $HIG

Axa S.A. raised its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 225.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 253,345 shares of the insurance provider’s stock after acquiring an additional 175,475 shares during the period. Axa S.A. owned approximately 0.09% of The Hartford Insurance Group worth $32,142,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of The Hartford Insurance Group in the 2nd quarter worth $506,329,000. Franklin Resources Inc. raised its stake in The Hartford Insurance Group by 51.5% in the second quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider’s stock valued at $414,632,000 after buying an additional 1,111,659 shares during the last quarter. Woodline Partners LP boosted its holdings in The Hartford Insurance Group by 28,218.5% in 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 purchased a new stake in shares of The Hartford Insurance Group during the first quarter worth about $87,516,000. Finally, Bahl & Gaynor Inc. increased its holdings 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 valued at $264,972,000 after acquiring an additional 684,390 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Up 0.2%

The Hartford Insurance Group stock opened at $130.04 on Wednesday. The business’s 50-day moving average price is $130.30 and its 200 day moving average price is $128.75. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm has a market cap of $36.23 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 1.21 and a beta of 0.63. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $138.64.

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

The Hartford Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

Insider Activity at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the completion of the transaction, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. The trade was a 29.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

HIG has been the topic of several research analyst reports. UBS Group boosted their target price on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday. Cantor Fitzgerald initiated 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. Morgan Stanley upped their target price on The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. JPMorgan Chase & Co. lifted their price target on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Finally, Piper Sandler increased their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $143.50.

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.