AustralianSuper Pty Ltd Grows Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• AustralianSuper Pty Ltd increased its stake in The Hartford Insurance Group by 8.2% in the fourth quarter, buying 150,625 more shares and bringing its total holding to 1,992,128 shares worth about $274.5 million.
• The Hartford reported mixed quarterly results: EPS of $3.09 missed analyst estimates, but revenue came in at $14.45 billion, well above expectations and up 6.1% year over year.
• The company also paid a quarterly dividend of $0.60 per share, equal to an annualized yield of 1.8%, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $149.31.

AustralianSuper Pty Ltd lifted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,992,128 shares of the insurance provider's stock after buying an additional 150,625 shares during the quarter. The Hartford Insurance Group makes up 1.3% of AustralianSuper Pty Ltd's holdings, making the stock its 12th largest holding. AustralianSuper Pty Ltd owned 0.71% of The Hartford Insurance Group worth $274,515,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Signal Advisors Wealth LLC boosted its stake in The Hartford Insurance Group by 4.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider's stock worth $240,000 after purchasing an additional 75 shares during the period. Sound Income Strategies LLC lifted its position in The Hartford Insurance Group by 45.3% during the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 87 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of The Hartford Insurance Group by 16.4% in the 3rd quarter. Larson Financial Group LLC now owns 619 shares of the insurance provider's stock worth $83,000 after buying an additional 87 shares during the last quarter. REAP Financial Group LLC increased its stake in The Hartford Insurance Group by 12.7% during the third quarter. REAP Financial Group LLC now owns 790 shares of the insurance provider's stock worth $105,000 after acquiring an additional 89 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs lifted its stake in shares of The Hartford Insurance Group by 0.8% in the 4th quarter. AG2R LA Mondiale Gestion D Actifs now owns 11,939 shares of the insurance provider's stock valued at $1,645,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $134.30 on Friday. The stock's 50-day moving average is $136.02 and its 200 day moving average is $135.42. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50. The company has a market cap of $36.82 billion, a P/E ratio of 9.44, a PEG ratio of 2.38 and a beta of 0.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The business had revenue of $14.45 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.20 EPS. Research 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 business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, March 2nd. The Hartford Insurance Group's payout ratio is currently 16.87%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HIG. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a research report on Monday, March 30th. Citigroup lifted their price target on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 4th. Mizuho upped their price target on shares of The Hartford Insurance Group from $158.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Morgan Stanley raised their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 3rd. Finally, Wells Fargo & Company boosted their target price on The Hartford Insurance Group from $156.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $149.31.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the transaction, the executive vice president owned 25,392 shares in the company, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company's stock.

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.

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