Tredje AP fonden Purchases 22,096 Shares of The Hartford Insurance Group, Inc. $HIG

Tredje AP fonden increased its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 92.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,936 shares of the insurance provider’s stock after purchasing an additional 22,096 shares during the period. Tredje AP fonden’s holdings in The Hartford Insurance Group were worth $5,828,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HIG. Woodline Partners LP boosted its stake in The Hartford Insurance Group by 28,218.5% in the 1st quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock worth $93,763,000 after purchasing an additional 755,128 shares in the last quarter. Nuveen LLC purchased a new position in The Hartford Insurance Group in the 1st quarter worth about $87,516,000. Bahl & Gaynor Inc. raised its position in The Hartford Insurance Group by 47.0% in the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock worth $264,972,000 after buying an additional 684,390 shares during the last quarter. Amundi raised its position in The Hartford Insurance Group by 27.4% in the 1st quarter. Amundi now owns 1,943,498 shares of the insurance provider’s stock worth $239,905,000 after buying an additional 417,951 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position 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 buying an additional 414,216 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HIG shares. Piper Sandler boosted their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Citigroup started coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 target price for the company. UBS Group boosted their target price on The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Finally, Cantor Fitzgerald assumed coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued an “overweight” rating and a $152.00 target price for the company. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.57.

The Hartford Insurance Group Price Performance

NYSE HIG opened at $124.35 on Friday. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $135.17. The firm has a market capitalization of $34.65 billion, a P/E ratio of 10.16, a PEG ratio of 1.19 and a beta of 0.69. 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 company has a 50-day moving average price of $130.01 and a 200-day moving average price of $127.20.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, beating the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the prior year, the firm earned $2.53 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be paid a dividend of $0.60 per share. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio is presently 19.61%.

Insider Activity at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 7,841 shares of the business’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 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. The trade was a 29.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 45,305 shares of company stock worth $5,608,647. 1.50% of the stock is owned by company insiders.

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.