Oddo BHF Asset Management Sas Boosts Stake in The Hartford Insurance Group, Inc. $HIG

Oddo BHF Asset Management Sas lifted its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 32.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 81,362 shares of the insurance provider’s stock after acquiring an additional 19,829 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in The Hartford Insurance Group were worth $11,212,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its position in shares of The Hartford Insurance Group by 286,241.4% in 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 acquiring an additional 73,835,976 shares during the period. Norges Bank bought a new position in shares of The Hartford Insurance Group in the fourth quarter worth approximately $611,724,000. Allianz Asset Management GmbH boosted its holdings in The Hartford Insurance Group by 131.1% in the fourth quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider’s stock worth $224,901,000 after purchasing an additional 925,789 shares during the last quarter. Danske Bank A S bought a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at $91,398,000. Finally, Balyasny Asset Management L.P. boosted its stake in shares of The Hartford Insurance Group by 6,431.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock worth $85,829,000 after acquiring an additional 633,592 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods decreased their price objective on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a research report on Thursday, June 4th. Bank of America raised their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Piper Sandler decreased their price objective on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a research report on Thursday, June 11th. Finally, UBS Group cut their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.31.

Insider Activity

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

The Hartford Insurance Group Price Performance

HIG stock opened at $129.72 on Tuesday. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $134.21 and a 200 day moving average price of $135.61. The stock has a market cap of $35.56 billion, a PE ratio of 9.12, a P/E/G ratio of 2.35 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate of $3.39 by ($0.30). The business had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.20 EPS. Equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 13.05 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 16.87%.

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.