DNB Asset Management AS Decreases Stock Holdings in The Hartford Insurance Group, Inc. $HIG

DNB Asset Management AS lowered its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 276,182 shares of the insurance provider’s stock after selling 5,520 shares during the period. DNB Asset Management AS owned about 0.10% of The Hartford Insurance Group worth $36,840,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC grew its stake in shares of The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 184 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of The Hartford Insurance Group in the 3rd quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC increased its stake in shares of The Hartford Insurance Group by 72.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after buying an additional 99 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of The Hartford Insurance Group during the second quarter valued at approximately $35,000. Finally, Addison Advisors LLC raised its holdings in shares of The Hartford Insurance Group by 129.3% during the second quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Down 0.1%

HIG stock opened at $140.91 on Friday. The business has a 50 day moving average of $137.07 and a 200 day moving average of $133.34. The firm has a market cap of $38.87 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 1.37 and a beta of 0.61. The Hartford Insurance Group, Inc. has a twelve month low of $107.49 and a twelve month high of $144.50. The company has a quick ratio of 0.32, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The firm had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.94 earnings per share. On average, research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s payout ratio is 17.99%.

Insiders Place Their Bets

In related news, CEO Christopher Swift sold 201,938 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total value of $27,546,362.58. Following the transaction, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at approximately $26,574,986.97. This represents a 50.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction on 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 sale, the chief financial officer owned 77,574 shares in the company, valued at approximately $10,595,056.92. This represents a 31.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 343,928 shares of company stock valued at $47,393,256. Insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen downgraded shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Evercore raised their price objective on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a report on Wednesday, January 7th. Mizuho assumed coverage on The Hartford Insurance Group in a report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 target price on the stock. Piper Sandler increased their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Finally, Morgan Stanley increased their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $148.13.

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.