Arbejdsmarkedets Tillaegspension Acquires Shares of 178,860 The Hartford Insurance Group, Inc. $HIG

Key Points

• Arbejdsmarkedets Tillaegspension disclosed a new fourth-quarter stake in The Hartford Insurance Group, buying 178,860 shares valued at about $24.6 million. The position makes HIG its 17th largest holding and about 0.6% of its portfolio.
• The Hartford reported Q1 earnings of $3.09 per share, missing analyst expectations of $3.39, even though revenue rose 6.1% year over year to $14.45 billion. Analysts still expect the company to post 13.17 EPS for the full year.
• Shares of The Hartford were up 1.3% to $134.30, and analysts currently have a Moderate Buy consensus with an average price target of $149.31. The company also pays a quarterly dividend of $0.60, or $2.40 annually, yielding about 1.8%.

Arbejdsmarkedets Tillaegspension bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 178,860 shares of the insurance provider's stock, valued at approximately $24,647,000. The Hartford Insurance Group comprises about 0.6% of Arbejdsmarkedets Tillaegspension's holdings, making the stock its 17th largest position. Arbejdsmarkedets Tillaegspension owned approximately 0.06% of The Hartford Insurance Group at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of HIG. Ashton Thomas Private Wealth LLC purchased a new position in shares of The Hartford Insurance Group in the 1st quarter valued at $207,000. NewEdge Advisors LLC grew its position in shares of The Hartford Insurance Group by 1.6% in the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider's stock valued at $7,122,000 after buying an additional 886 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of The Hartford Insurance Group by 3.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider's stock valued at $21,297,000 after buying an additional 6,285 shares during the last quarter. HUB Investment Partners LLC grew its position in shares of The Hartford Insurance Group by 9.8% in the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider's stock valued at $878,000 after buying an additional 619 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of The Hartford Insurance Group by 25.5% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider's stock valued at $24,488,000 after buying an additional 39,220 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Up 1.3%

HIG stock opened at $134.30 on Friday. The Hartford Insurance Group, Inc. has a one year low of $119.61 and a one year high of $144.50. The stock has a market capitalization of $36.82 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 2.38 and a beta of 0.50. 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 company has a fifty day moving average of $136.02 and a 200-day moving average of $135.42.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $14.45 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the business posted $2.20 EPS. The firm's revenue was up 6.1% on a year-over-year basis. As a group, analysts expect that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, March 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is 16.87%.

Insider Activity at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of the firm'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 owned 25,392 shares in the company, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on HIG shares. Mizuho increased their target price on shares of The Hartford Insurance Group from $158.00 to $159.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Roth Mkm raised their price objective on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. Citigroup raised their price objective on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. Weiss Ratings raised shares of The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, February 13th. Finally, Bank of America raised their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of "Moderate Buy" and an average price target of $149.31.

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.

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