4,439,218 Shares in The Hartford Insurance Group, Inc. $HIG Acquired by Norges Bank

Norges Bank purchased a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,439,218 shares of the insurance provider’s stock, valued at approximately $611,724,000.

Several other institutional investors have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after purchasing an additional 73,835,976 shares during the period. State Street Corp boosted its holdings in shares of The Hartford Insurance Group by 0.4% during the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after purchasing an additional 55,983 shares during the period. Geode Capital Management LLC boosted its holdings in shares of The Hartford Insurance Group by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock worth $1,091,440,000 after purchasing an additional 34,274 shares during the period. Invesco Ltd. boosted its holdings in shares of The Hartford Insurance Group by 10.3% during the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after purchasing an additional 496,821 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of The Hartford Insurance Group by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider’s stock worth $606,956,000 after purchasing an additional 81,712 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Price Performance

NYSE HIG opened at $127.29 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $34.89 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 2.28 and a beta of 0.47. The company has a 50 day moving average price of $135.47 and a two-hundred day moving average price of $136.04. The Hartford Insurance Group, Inc. has a 12-month low of $119.61 and a 12-month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last posted 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 net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the firm earned $2.20 earnings per share. The Hartford Insurance Group’s revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts predict that The Hartford Insurance Group, Inc. will post 13.17 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s payout ratio is presently 16.87%.

Insiders Place Their Bets

In other news, EVP Lori A. Rodden sold 40,693 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the sale, the executive vice president directly owned 25,392 shares in the company, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on HIG. Barclays decreased their price target on shares of 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. Citigroup lifted their target price on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Wells Fargo & Company lifted their target price on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Morgan Stanley lifted their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $149.00 target price (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday, March 30th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.31.

About The Hartford Insurance Group

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.