The Hartford Insurance Group, Inc. $HIG Stake Reduced by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 20.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,864 shares of the insurance provider’s stock after selling 7,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in The Hartford Insurance Group were worth $3,984,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Princeton Global Asset Management LLC acquired a new stake in shares of The Hartford Insurance Group in the 3rd quarter worth about $27,000. Private Wealth Management Group LLC increased its stake in shares of The Hartford Insurance Group by 151.1% in the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 133 shares during the period. Vermillion & White Wealth Management Group LLC increased its stake in shares of The Hartford Insurance Group by 72.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 99 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of The Hartford Insurance Group during the second quarter valued at approximately $35,000. Finally, Signature Resources Capital Management LLC acquired a new position in shares of The Hartford Insurance Group during the second quarter worth approximately $38,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Down 1.0%

HIG stock opened at $129.49 on Monday. The firm has a market cap of $36.08 billion, a PE ratio of 10.58, a P/E/G ratio of 1.17 and a beta of 0.61. The Hartford Insurance Group, Inc. has a 12 month low of $105.98 and a 12 month high of $140.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a 50 day simple moving average of $135.31 and a 200 day simple moving average of $130.67.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the company earned $2.53 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. Equities research analysts forecast 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 business also recently announced a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 1st were issued a dividend of $0.60 per share. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 19.61%.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the transaction, the executive vice president directly owned 18,400 shares in the company, valued at approximately $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on HIG. Piper Sandler raised their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Keefe, Bruyette & Woods raised their price target on The Hartford Insurance Group from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Monday, December 29th. Wall Street Zen lowered shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Cantor Fitzgerald boosted their price target on shares of The Hartford Insurance Group from $152.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and an average price target of $148.47.

The Hartford Insurance Group 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.