Korea Investment CORP Has $68.49 Million Stake in The Hartford Insurance Group, Inc. $HIG

Korea Investment CORP raised its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 63.2% in the 3rd quarter, Holdings Channel reports. The firm owned 513,441 shares of the insurance provider’s stock after purchasing an additional 198,856 shares during the quarter. Korea Investment CORP’s holdings in The Hartford Insurance Group were worth $68,488,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of HIG. Allianz Asset Management GmbH increased its stake in shares of The Hartford Insurance Group by 24.9% in the third quarter. Allianz Asset Management GmbH now owns 706,293 shares of the insurance provider’s stock valued at $94,212,000 after buying an additional 140,624 shares during the period. Canada Post Corp Registered Pension Plan lifted its stake in shares of The Hartford Insurance Group by 252.7% in the third quarter. Canada Post Corp Registered Pension Plan now owns 24,540 shares of the insurance provider’s stock worth $3,245,000 after acquiring an additional 17,582 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of The Hartford Insurance Group by 109.2% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,174 shares of the insurance provider’s stock worth $3,358,000 after acquiring an additional 13,138 shares during the period. National Pension Service boosted its holdings in The Hartford Insurance Group by 6.7% in the third quarter. National Pension Service now owns 509,580 shares of the insurance provider’s stock valued at $67,973,000 after acquiring an additional 31,912 shares during the last quarter. Finally, Raiffeisen Bank International AG increased its position in The Hartford Insurance Group by 102.0% during the 3rd quarter. Raiffeisen Bank International AG now owns 20,709 shares of the insurance provider’s stock valued at $2,739,000 after purchasing an additional 10,455 shares during the period. 93.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on HIG. Wells Fargo & Company raised their price target on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Cantor Fitzgerald lifted their target price on shares of The Hartford Insurance Group from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Piper Sandler boosted their target price on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Royal Bank Of Canada assumed coverage on shares of The Hartford Insurance Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price target on the stock. Finally, Mizuho began coverage on The Hartford Insurance Group in a report on Tuesday, December 16th. They set an “outperform” rating and a $160.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average price target of $148.13.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $139.32 on Monday. The company has a market cap of $38.43 billion, a P/E ratio of 10.44, a PEG ratio of 1.35 and a beta of 0.60. The company has a fifty day simple moving average of $137.25 and a 200 day simple moving average of $133.80. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a 12-month low of $107.49 and a 12-month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the company posted $2.94 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. Sell-side analysts predict 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio is currently 17.99%.

Insider Activity at The Hartford Insurance Group

In related news, CEO Christopher Swift sold 201,938 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 194,817 shares of the company’s stock, valued at approximately $26,574,986.97. This trade represents a 50.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 343,928 shares of company stock valued at $47,393,256. 1.60% of the stock is owned by corporate insiders.

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.