The Hartford Insurance Group, Inc. $HIG Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB lowered its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 38.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,220 shares of the insurance provider’s stock after selling 75,907 shares during the period. AMF Tjanstepension AB’s holdings in The Hartford Insurance Group were worth $16,036,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HIG. Sagespring Wealth Partners LLC increased its position in The Hartford Insurance Group by 10.6% during the 3rd quarter. Sagespring Wealth Partners LLC now owns 3,581 shares of the insurance provider’s stock worth $478,000 after purchasing an additional 343 shares during the period. Mn Services Vermogensbeheer B.V. grew its position in shares of The Hartford Insurance Group by 3.3% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 110,200 shares of the insurance provider’s stock valued at $14,700,000 after purchasing an additional 3,500 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of The Hartford Insurance Group by 3.0% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 166,617 shares of the insurance provider’s stock worth $22,225,000 after acquiring an additional 4,924 shares during the period. UniSuper Management Pty Ltd increased its holdings in shares of The Hartford Insurance Group by 12.7% during the 3rd quarter. UniSuper Management Pty Ltd now owns 30,012 shares of the insurance provider’s stock worth $4,003,000 after buying an additional 3,373 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of The Hartford Insurance Group by 1.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 348,678 shares of the insurance provider’s stock worth $46,510,000 after purchasing an additional 5,380 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity

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

The Hartford Insurance Group Trading Down 1.1%

Shares of NYSE:HIG opened at $128.52 on Friday. The firm has a market capitalization of $35.81 billion, a P/E ratio of 10.50, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61. The firm has a fifty day moving average of $134.99 and a two-hundred day moving average of $130.81. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 12-month low of $105.98 and a 12-month high of $140.50.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share 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 analyst estimates of $7.17 billion. During the same period last year, the company earned $2.53 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 1st were given a $0.60 dividend. 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%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HIG shares. Wall Street Zen downgraded The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Monday, December 29th. Cantor Fitzgerald boosted their price objective on The Hartford Insurance Group from $152.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Wells Fargo & Company boosted their price objective on The Hartford Insurance Group from $140.00 to $153.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Finally, Evercore ISI boosted their price target on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a research report on Wednesday, January 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and a consensus price target of $148.47.

About The Hartford Insurance Group

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.