KBC Group NV Grows Position in The Hartford Insurance Group, Inc. $HIG

KBC Group NV grew its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 625,105 shares of the insurance provider’s stock after buying an additional 47,527 shares during the period. KBC Group NV’s holdings in The Hartford Insurance Group were worth $86,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its position in The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 184 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group in the 3rd quarter valued at about $26,000. Princeton Global Asset Management LLC purchased a new position in The Hartford Insurance Group in the 3rd quarter worth approximately $27,000. United Financial Planning Group LLC purchased a new position in The Hartford Insurance Group in the 3rd quarter worth approximately $29,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Citigroup boosted their price objective on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Cantor Fitzgerald dropped their target price on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Weiss Ratings raised The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, February 13th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $149.00 price target (down from $163.00) on shares of The Hartford Insurance Group in a report on Monday, March 30th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.56.

Insiders Place Their Bets

In other news, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the transaction, the executive vice president directly owned 25,392 shares in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher Swift sold 201,938 shares of The Hartford Insurance Group stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $136.41, for a total value of $27,546,362.58. Following the completion of the sale, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at $26,574,986.97. The trade was a 50.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 349,282 shares of company stock worth $48,184,324 over the last 90 days. 1.50% of the stock is owned by insiders.

The Hartford Insurance Group Trading Up 0.0%

Shares of HIG stock opened at $138.79 on Thursday. The Hartford Insurance Group, Inc. has a 1-year low of $113.27 and a 1-year high of $144.50. The firm has a market cap of $38.29 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 1.35 and a beta of 0.53. The company has a 50-day moving average of $138.11 and a two-hundred day moving average of $134.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31.

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

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio is 17.99%.

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.