Forsta AP Fonden Raises Stake in The Hartford Insurance Group, Inc. $HIG

Forsta AP Fonden increased its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 30.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 154,900 shares of the insurance provider’s stock after buying an additional 36,100 shares during the period. Forsta AP Fonden owned about 0.06% of The Hartford Insurance Group worth $19,652,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Woodline Partners LP increased its stake in shares of The Hartford Insurance Group by 28,218.5% during 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 during the last quarter. Nuveen LLC purchased a new stake in The Hartford Insurance Group in the first quarter worth $87,516,000. Bahl & Gaynor Inc. raised its stake in shares of The Hartford Insurance Group by 47.0% in the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock valued at $264,972,000 after buying an additional 684,390 shares during the period. Amundi lifted its position in shares of The Hartford Insurance Group by 27.4% during the 1st quarter. Amundi now owns 1,943,498 shares of the insurance provider’s stock valued at $239,905,000 after buying an additional 417,951 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of The Hartford Insurance Group by 38.4% during 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 acquiring an additional 414,216 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Up 1.1%

HIG opened at $132.63 on Thursday. The firm has a market capitalization of $36.96 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17. The company has a fifty day moving average price of $129.44 and a 200-day moving average price of $127.83. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.76. The company had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $2.53 earnings per share. 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 business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be paid a $0.60 dividend. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, December 1st. The Hartford Insurance Group’s payout ratio is 19.61%.

Analyst Ratings Changes

Several equities research analysts have commented on HIG shares. Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Citigroup initiated coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price target on the stock. Weiss Ratings raised shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, November 7th. Piper Sandler lifted 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, Wells Fargo & Company dropped their target price on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $140.14.

Insider Activity at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value 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. This represents a 29.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.50% of the company’s stock.

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.