Swiss National Bank Lowers Stock Position in The Hartford Insurance Group, Inc. $HIG

Swiss National Bank trimmed its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 5.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 819,000 shares of the insurance provider’s stock after selling 44,900 shares during the quarter. Swiss National Bank’s holdings in The Hartford Insurance Group were worth $109,246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Vinva Investment Management Ltd raised its position in shares of The Hartford Insurance Group by 19.7% during the 3rd quarter. Vinva Investment Management Ltd now owns 22,940 shares of the insurance provider’s stock valued at $3,034,000 after purchasing an additional 3,769 shares during the period. Guardian Partners Inc. purchased a new stake in The Hartford Insurance Group in the 3rd quarter worth $212,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its holdings in The Hartford Insurance Group by 174.3% during the third quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 19,200 shares of the insurance provider’s stock valued at $2,561,000 after acquiring an additional 12,200 shares during the period. Korea Investment CORP lifted its position in shares of The Hartford Insurance Group by 63.2% in the third quarter. Korea Investment CORP now owns 513,441 shares of the insurance provider’s stock valued at $68,488,000 after acquiring an additional 198,856 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of The Hartford Insurance Group in the third quarter valued at about $2,618,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 5,681 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $141.83, for a total transaction of $805,736.23. Following the transaction, the executive vice president owned 18,400 shares in the company, valued at $2,609,672. The trade was a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Beth Ann Costello sold 35,339 shares of the firm’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 owned 77,574 shares of the company’s stock, valued at $10,595,056.92. This trade represents a 31.30% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 343,928 shares of company stock valued at $47,393,256. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on HIG shares. Evercore lifted their target price on The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a research note on Wednesday, January 7th. Cantor Fitzgerald lifted their price objective on shares of The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Insurance Group from $160.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Royal Bank Of Canada started coverage on shares of The Hartford Insurance Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price target on the stock. Finally, UBS Group increased their price objective on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.13.

The Hartford Insurance Group Stock Performance

Shares of NYSE:HIG opened at $137.18 on Wednesday. The firm has a fifty day simple moving average of $137.20 and a two-hundred day simple moving average of $133.86. The Hartford Insurance Group, Inc. has a 52 week low of $107.49 and a 52 week high of $144.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $37.84 billion, a P/E ratio of 10.28, a PEG ratio of 1.34 and a beta of 0.60.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 13.52% and a return on equity of 21.92%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.94 EPS. On average, analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

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

The Hartford Insurance Group Profile

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.