Andra AP fonden Decreases Stock Position in The Hartford Insurance Group, Inc. $HIG

Andra AP fonden cut its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 67.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,900 shares of the insurance provider’s stock after selling 96,200 shares during the quarter. Andra AP fonden’s holdings in The Hartford Insurance Group were worth $5,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Woodline Partners LP lifted its position in The Hartford Insurance Group by 28,218.5% in the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock valued at $93,763,000 after purchasing an additional 755,128 shares during the last quarter. Nuveen LLC purchased a new position in shares of The Hartford Insurance Group in the first quarter worth $87,516,000. Bahl & Gaynor Inc. raised its holdings in The Hartford Insurance Group by 47.0% during the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock valued at $264,972,000 after buying an additional 684,390 shares during the last quarter. Amundi boosted its position in The Hartford Insurance Group by 27.4% during the 1st quarter. Amundi now owns 1,943,498 shares of the insurance provider’s stock valued at $239,905,000 after buying an additional 417,951 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in The Hartford Insurance Group by 38.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,493,077 shares of the insurance provider’s stock worth $189,427,000 after acquiring an additional 414,216 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insider Transactions at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 7,841 shares of the business’s 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 owned 18,400 shares of the company’s stock, valued at $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Trading Up 1.1%

HIG opened at $129.29 on Friday. The stock has a market cap of $36.03 billion, a PE ratio of 10.56, a PEG ratio of 1.19 and a beta of 0.70. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average of $129.49 and a 200-day moving average of $127.50. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.76. The company had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.53 earnings per share. Equities research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal 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 paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio (DPR) is 19.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on HIG shares. Cantor Fitzgerald assumed coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 price objective on the stock. Wall Street Zen downgraded The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Morgan Stanley upped their price target on The Hartford Insurance Group from $135.00 to $140.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Saturday, October 25th. Finally, Citigroup began coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $138.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.14.

About The Hartford Insurance Group

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.