Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Holdings in The Hartford Insurance Group, Inc. $HIG

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 125.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 67,264 shares of the insurance provider’s stock after buying an additional 37,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in The Hartford Insurance Group were worth $9,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new stake in The Hartford Insurance Group during the third quarter valued at approximately $26,000. Sunbelt Securities Inc. bought a new stake in The Hartford Insurance Group during the third quarter valued at approximately $29,000. United Financial Planning Group LLC bought a new stake in The Hartford Insurance Group during the third quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC grew its position in The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after buying an additional 152 shares during the period. Finally, Fideuram Asset Management Ireland dac bought a new stake in The Hartford Insurance Group during the fourth quarter valued at approximately $36,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Trading Up 0.1%

Shares of NYSE:HIG opened at $132.25 on Monday. The stock has a 50 day moving average of $134.89 and a 200 day moving average of $135.87. The company has a market cap of $36.25 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 2.38 and a beta of 0.47. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. 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 announced its quarterly earnings data 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 company had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter last year, the firm posted $2.20 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts expect that The Hartford Insurance Group, Inc. will post 13.12 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.87%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HIG shares. Wells Fargo & Company reduced their price objective on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research note on Friday. UBS Group reduced 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. Mizuho reduced their price objective on The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating for the company in a research note on Friday. Barclays reduced their price objective on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Finally, Bank of America upped their price objective on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, The Hartford Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $148.19.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction dated 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 sale, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 25,392 shares in the company, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.30% of the stock is owned by company 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.