Raiffeisen Bank International AG Sells 5,478 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG)

Raiffeisen Bank International AG cut its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 35.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 9,796 shares of the insurance provider’s stock after selling 5,478 shares during the period. Raiffeisen Bank International AG’s holdings in The Hartford Insurance Group were worth $1,197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HIG. GAMMA Investing LLC lifted its position in The Hartford Insurance Group by 14,049.5% in the 1st quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider’s stock valued at $1,761,930,000 after acquiring an additional 1,413,945 shares in the last quarter. Ameriprise Financial Inc. lifted its position in The Hartford Insurance Group by 48.1% in the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider’s stock valued at $247,761,000 after acquiring an additional 735,170 shares in the last quarter. Northern Trust Corp raised its stake in The Hartford Insurance Group by 17.2% during the 4th quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider’s stock valued at $387,021,000 after buying an additional 519,717 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in The Hartford Insurance Group during the 4th quarter valued at $46,271,000. Finally, AustralianSuper Pty Ltd raised its stake in The Hartford Insurance Group by 31.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 1,600,215 shares of the insurance provider’s stock valued at $197,995,000 after buying an additional 387,141 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Trading Up 2.6%

Shares of HIG stock opened at $126.21 on Tuesday. The Hartford Insurance Group, Inc. has a 52-week low of $103.96 and a 52-week high of $132.09. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market capitalization of $35.49 billion, a PE ratio of 11.44, a PEG ratio of 1.22 and a beta of 0.67. The stock has a fifty day simple moving average of $125.00 and a two-hundred day simple moving average of $120.83.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.58. The business had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%. The Hartford Insurance Group’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.50 EPS. On average, analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group’s payout ratio is currently 18.86%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HIG. Morgan Stanley boosted their target price on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the company an “outperform” rating in a research note on Monday. Wall Street Zen upgraded shares of The Hartford Insurance Group from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays decreased their target price on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday, July 7th. Finally, UBS Group boosted their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Monday. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.42.

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.