The Hartford Insurance Group, Inc. $HIG Position Lifted by Bank of Nova Scotia

Bank of Nova Scotia grew its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 40.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,132 shares of the insurance provider’s stock after acquiring an additional 33,701 shares during the period. Bank of Nova Scotia’s holdings in The Hartford Insurance Group were worth $14,861,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of HIG. Chicago Partners Investment Group LLC raised its stake in The Hartford Insurance Group by 7.3% during the first quarter. Chicago Partners Investment Group LLC now owns 2,372 shares of the insurance provider’s stock valued at $303,000 after buying an additional 161 shares in the last quarter. Citigroup Inc. increased its holdings in shares of The Hartford Insurance Group by 4.6% in the 1st quarter. Citigroup Inc. now owns 325,722 shares of the insurance provider’s stock valued at $40,302,000 after acquiring an additional 14,367 shares during the last quarter. Townsquare Capital LLC raised its position in shares of The Hartford Insurance Group by 17.8% during the 1st quarter. Townsquare Capital LLC now owns 9,216 shares of the insurance provider’s stock valued at $1,140,000 after acquiring an additional 1,395 shares in the last quarter. Entropy Technologies LP bought a new position in The Hartford Insurance Group during the first quarter worth $505,000. Finally, Cooper Financial Group lifted its stake in The Hartford Insurance Group by 11.0% during the first quarter. Cooper Financial Group now owns 2,586 shares of the insurance provider’s stock worth $320,000 after purchasing an additional 257 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the sale, the executive vice president directly owned 18,400 shares in the company, valued at $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wells Fargo & Company dropped their target price on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Cantor Fitzgerald assumed coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price objective on the stock. Keefe, Bruyette & Woods raised 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 report on Tuesday, November 4th. JPMorgan Chase & Co. upped their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Finally, Argus increased their price target on The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. One 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.50.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $130.04 on Wednesday. The firm’s 50 day moving average is $130.30 and its two-hundred day moving average is $128.75. The firm has a market capitalization of $36.23 billion, a P/E ratio of 10.62, a PEG ratio of 1.21 and a beta of 0.63. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. 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 issued 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 return on equity of 21.07% and a net margin of 12.75%.The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the firm posted $2.53 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. 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 issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. 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. The Hartford Insurance Group’s dividend payout ratio is 19.61%.

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.