Swiss National Bank Increases Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Swiss National Bank lifted its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 863,900 shares of the insurance provider’s stock after purchasing an additional 46,400 shares during the quarter. Swiss National Bank’s holdings in The Hartford Insurance Group were worth $109,603,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atlas Capital Advisors Inc. boosted its holdings in shares of The Hartford Insurance Group by 95.1% in the first quarter. Atlas Capital Advisors Inc. now owns 6,443 shares of the insurance provider’s stock valued at $797,000 after acquiring an additional 3,140 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in The Hartford Insurance Group by 61.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 125,825 shares of the insurance provider’s stock valued at $15,727,000 after purchasing an additional 47,919 shares during the period. Ground Swell Capital LLC purchased a new stake in The Hartford Insurance Group in the 2nd quarter valued at approximately $324,000. Jump Financial LLC increased its position in The Hartford Insurance Group by 330.5% during the 1st quarter. Jump Financial LLC now owns 28,218 shares of the insurance provider’s stock worth $3,491,000 after purchasing an additional 21,664 shares during the period. Finally, ASR Vermogensbeheer N.V. acquired a new position in The Hartford Insurance Group during the 1st quarter worth approximately $8,439,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Donald Christian Hunt sold 2,124 shares of the company’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 transaction of $284,339.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of the firm’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 sale, the executive vice president owned 18,400 shares in the company, valued at approximately $2,252,344. This trade represents a 29.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is owned by company insiders.

The Hartford Insurance Group Trading Up 1.2%

NYSE:HIG opened at $136.34 on Friday. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $137.43. 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 stock has a fifty day simple moving average of $129.66 and a 200-day simple moving average of $128.32. The company has a market capitalization of $37.99 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the business posted $2.53 earnings per share. The Hartford Insurance Group’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts expect 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 company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be issued a $0.60 dividend. This is a positive change 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 yield of 1.8%. The Hartford Insurance Group’s payout ratio is currently 19.61%.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of analyst reports. Wall Street Zen downgraded The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Morgan Stanley raised their target price on The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Cantor Fitzgerald started coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price target on the stock. Piper Sandler raised their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Raymond James Financial restated an “outperform” rating and set a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

The Hartford Insurance Group Company Profile

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.