Hsbc Holdings PLC Grows Stock Position in The Hartford Insurance Group, Inc. $HIG

HSBC Holdings PLC increased its stake in The Hartford Insurance Group by 10.6% in Q2, owning 1,104,573 shares worth $139.89 million. Other institutional investors also adjusted their positions in HIG. The Hartford Insurance Group reported strong quarterly earnings, beating estimates with $3.78 EPS. The company announced a dividend increase to $0.60 per share, payable on January 5th. Insider trading activity included sales by EVP Lori A. Rodden and EVP Donald Christian Hunt.

Hsbc Holdings PLC boosted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 10.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,104,573 shares of the insurance provider's stock after acquiring an additional 106,271 shares during the period. Hsbc Holdings PLC owned 0.39% of The Hartford Insurance Group worth $139,890,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HIG. NorthRock Partners LLC grew its position in shares of The Hartford Insurance Group by 2.6% in the first quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider's stock valued at $395,000 after purchasing an additional 80 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in shares of The Hartford Insurance Group by 3.6% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider's stock worth $303,000 after purchasing an additional 85 shares during the last quarter. Fidelis Capital Partners LLC lifted its stake in The Hartford Insurance Group by 4.4% in the 2nd quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider's stock valued at $262,000 after buying an additional 86 shares in the last quarter. Wealthspire Advisors LLC grew its holdings in The Hartford Insurance Group by 3.2% during the 1st quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider's stock valued at $356,000 after buying an additional 88 shares during the last quarter. Finally, BayBridge Capital Group LLC increased its position in The Hartford Insurance Group by 2.4% during the second quarter. BayBridge Capital Group LLC now owns 3,776 shares of the insurance provider's stock worth $479,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Stock Down 0.3%

Shares of NYSE:HIG opened at $137.03 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.32. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $138.64. The stock has a market capitalization of $38.18 billion, a P/E ratio of 11.19, a PEG ratio of 1.19 and a beta of 0.69. The stock has a 50-day simple moving average of $130.30 and a 200-day simple moving average of $128.64.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 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 for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter last year, the firm posted $2.53 earnings per share. The Hartford Insurance Group's revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts forecast 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. Investors of record on Monday, December 1st will be given a dividend of $0.60 per share. This is a positive change 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 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group's dividend payout ratio is currently 19.61%.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of the firm's 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 transaction, the executive vice president directly owned 18,400 shares of the company's stock, valued at $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Royal Bank Of Canada assumed coverage on The Hartford Insurance Group in a research report on Tuesday. They issued a "sector perform" rating and a $145.00 price objective on the stock. Morgan Stanley upped their target price on shares of The Hartford Insurance Group from $140.00 to $150.00 and gave the company an "equal weight" rating in a report on Monday, November 17th. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Keefe, Bruyette & Woods boosted their price objective on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, November 4th. Finally, Piper Sandler upped their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $143.29.

Check Out Our Latest Research Report on HIG

The Hartford Insurance Group Company Profile

(Free Report)

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.

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