Raiffeisen Bank International AG Raises Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Raiffeisen Bank International AG increased its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 102.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,709 shares of the insurance provider’s stock after purchasing an additional 10,455 shares during the period. Raiffeisen Bank International AG’s holdings in The Hartford Insurance Group were worth $2,739,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of HIG. Norges Bank purchased a new stake in shares of The Hartford Insurance Group during the 2nd quarter valued at $506,329,000. Franklin Resources Inc. increased its stake in The Hartford Insurance Group by 51.5% in the second quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider’s stock valued at $414,632,000 after acquiring an additional 1,111,659 shares during the last quarter. Qube Research & Technologies Ltd raised its position in The Hartford Insurance Group by 217.9% during the second quarter. Qube Research & Technologies Ltd now owns 832,291 shares of the insurance provider’s stock valued at $105,593,000 after purchasing an additional 570,521 shares in the last quarter. Man Group plc lifted its stake in The Hartford Insurance Group by 36.6% during the second quarter. Man Group plc now owns 1,064,849 shares of the insurance provider’s stock worth $135,097,000 after purchasing an additional 285,596 shares during the last quarter. Finally, CSM Advisors LLC purchased a new position in shares of The Hartford Insurance Group in the 2nd quarter worth about $35,381,000. 93.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Lori A. Rodden sold 5,681 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $141.83, for a total transaction of $805,736.23. Following the transaction, the executive vice president directly owned 18,400 shares of the company’s stock, valued at approximately $2,609,672. The trade was a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Swift sold 100,970 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total value of $14,214,556.60. Following the transaction, the chief executive officer owned 194,817 shares of the company’s stock, valued at approximately $27,426,337.26. This represents a 34.14% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 343,928 shares of company stock worth $47,393,256. 1.50% of the stock is currently owned by company insiders.

The Hartford Insurance Group Trading Up 1.4%

NYSE:HIG opened at $142.21 on Friday. The firm has a market capitalization of $39.63 billion, a P/E ratio of 10.66, a P/E/G ratio of 1.49 and a beta of 0.61. The company has a quick ratio of 0.32, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $136.89 and a 200 day moving average of $133.02. The Hartford Insurance Group, Inc. has a 52 week low of $107.49 and a 52 week 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.94 earnings per share. On average, research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders 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 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 17.99%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HIG. JPMorgan Chase & Co. boosted their target price on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Piper Sandler boosted their price objective on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Weiss Ratings raised shares of The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, February 13th. Mizuho began coverage on shares of The Hartford Insurance Group in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 target price on the stock. Finally, Roth Mkm upped their price target on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.13.

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.