Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Stock Position in The Hartford Insurance Group, Inc. $HIG

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 89.3% during the first quarter, HoldingsChannel reports. The fund owned 127,314 shares of the insurance provider’s stock after buying an additional 60,050 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in The Hartford Insurance Group were worth $17,217,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CSM Advisors LLC increased its position in shares of The Hartford Insurance Group by 20.6% during the third quarter. CSM Advisors LLC now owns 336,336 shares of the insurance provider’s stock valued at $44,866,000 after acquiring an additional 57,468 shares during the last quarter. Legal & General Group Plc raised its stake in shares of The Hartford Insurance Group by 2.2% in the 3rd quarter. Legal & General Group Plc now owns 2,553,541 shares of the insurance provider’s stock valued at $340,617,000 after acquiring an additional 55,740 shares during the period. Nordea Investment Management AB lifted its holdings in shares of The Hartford Insurance Group by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider’s stock worth $606,956,000 after acquiring an additional 81,712 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich acquired a new position in shares of The Hartford Insurance Group in the 3rd quarter worth approximately $2,618,000. Finally, Guardian Capital LP boosted its position in shares of The Hartford Insurance Group by 7.4% during the 3rd quarter. Guardian Capital LP now owns 162,364 shares of the insurance provider’s stock worth $21,658,000 after purchasing an additional 11,197 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Trading Down 0.2%

Shares of HIG stock opened at $137.52 on Friday. The Hartford Insurance Group, Inc. has a fifty-two week low of $119.61 and a fifty-two week high of $144.50. The company has a 50 day moving average price of $132.49 and a 200 day moving average price of $135.45. The stock has a market capitalization of $37.70 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 2.53 and a beta of 0.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (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 business had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the company earned $2.20 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that The Hartford Insurance Group, Inc. will post 12.9 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is currently 16.87%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating for the company in a report on Thursday, June 4th. Barclays decreased their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Cantor Fitzgerald lowered their price target on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. UBS Group dropped their price objective on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Finally, Bank of America boosted 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. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.31.

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.