Handelsbanken Fonder AB Raises Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Handelsbanken Fonder AB lifted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 26.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,015 shares of the insurance provider’s stock after acquiring an additional 16,875 shares during the quarter. Handelsbanken Fonder AB’s holdings in The Hartford Insurance Group were worth $11,026,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group during the third quarter valued at approximately $26,000. Cornerstone Planning Group LLC increased its position in shares of 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 valued at $26,000 after acquiring an additional 184 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of The Hartford Insurance Group during the third quarter valued at approximately $29,000. United Financial Planning Group LLC bought a new position in The Hartford Insurance Group during the third quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC grew its holdings in The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 152 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Hartford Insurance Group

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 value of $5,617,668.65. Following the completion of the transaction, the executive vice president directly owned 25,392 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by insiders.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $136.02 on Friday. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50. The stock has a fifty day simple moving average of $135.66 and a two-hundred day simple moving average of $135.84. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The firm has a market cap of $37.29 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 2.46 and a beta of 0.50.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the business earned $2.20 earnings per share. The Hartford Insurance Group’s revenue was up 6.1% on a year-over-year basis. Analysts anticipate that The Hartford Insurance Group, Inc. will post 13.14 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 16.87%.

Analyst Upgrades and Downgrades

HIG has been the subject of several research reports. Bank of America increased their price objective on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Morgan Stanley increased their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Cantor Fitzgerald reduced their price objective 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. Barclays reduced their price objective on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $149.31.

The Hartford Insurance Group Company 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.