Citizens Financial Group Inc. RI Takes $736,000 Position in The Hartford Insurance Group, Inc. $HIG

Citizens Financial Group Inc. RI purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 5,530 shares of the insurance provider’s stock, valued at approximately $736,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after purchasing an additional 73,835,976 shares during the last quarter. BlackRock Inc. bought a new position in shares of The Hartford Insurance Group in the 2nd quarter valued at about $4,067,052,000. Norges Bank bought a new position in shares of The Hartford Insurance Group in the 4th quarter valued at about $611,724,000. Bank of New York Mellon Corp acquired a new stake in shares of The Hartford Insurance Group during the 2nd quarter worth approximately $337,907,000. Finally, Deutsche Bank AG acquired a new stake in shares of The Hartford Insurance Group during the 2nd quarter worth approximately $145,575,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of recent research reports. UBS Group dropped their price target 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. Cantor Fitzgerald raised their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Mizuho upped their target price on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Finally, Barclays reduced their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Hold” and a consensus target price of $149.67.

The Hartford Insurance Group Stock Down 0.8%

Shares of NYSE HIG opened at $137.83 on Thursday. The stock has a market cap of $37.33 billion, a P/E ratio of 8.91, a P/E/G ratio of 3.41 and a beta of 0.46. The firm has a 50 day moving average price of $137.25 and a 200 day moving average price of $136.62. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.41 earnings per share. Analysts expect that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be given a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is currently 15.51%.

The Hartford Insurance Group Company Profile

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.