The Hartford Insurance Group, Inc. $HIG Shares Purchased by Invesco Ltd.

Invesco Ltd. increased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,834,472 shares of the insurance provider’s stock after buying an additional 136,483 shares during the quarter. Invesco Ltd. owned about 1.72% of The Hartford Insurance Group worth $613,349,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of The Hartford Insurance Group during the 2nd quarter worth about $506,329,000. Franklin Resources Inc. grew its holdings 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 purchasing an additional 1,111,659 shares during the period. Woodline Partners LP increased its position in shares of 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 valued at $93,763,000 after buying an additional 755,128 shares in the last quarter. Nuveen LLC purchased a new stake in shares of The Hartford Insurance Group in the first quarter valued at approximately $87,516,000. Finally, Bahl & Gaynor Inc. raised its stake in shares of 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 worth $264,972,000 after buying an additional 684,390 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Down 1.0%

NYSE HIG opened at $131.74 on Friday. The business’s fifty day simple moving average is $130.49 and its 200-day simple moving average is $128.78. 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 $36.71 billion, a PE ratio of 10.76, a P/E/G ratio of 1.24 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 released its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping 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 last year, the business earned $2.53 earnings per share. The Hartford Insurance Group’s revenue was up 7.1% compared to the same quarter last year. As a group, equities 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 firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be paid a $0.60 dividend. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

Analyst Ratings Changes

A number of equities analysts have weighed in on HIG shares. Morgan Stanley upped their price objective on shares of The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. Piper Sandler lifted their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. UBS Group increased their target price on The Hartford Insurance Group from $150.00 to $152.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Evercore ISI boosted their price target on The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.29.

Insider Activity

In related news, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the sale, the executive vice president directly owned 18,400 shares in the company, valued at approximately $2,252,344. The trade was a 29.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Company 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.