BI Asset Management Fondsmaeglerselskab A S Grows Position in The Hartford Insurance Group, Inc. $HIG

Key Points

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BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 283,578 shares of the insurance provider's stock after buying an additional 26,606 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.10% of The Hartford Insurance Group worth $35,087,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Park Square Financial Group LLC raised its holdings in The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after buying an additional 155 shares during the last quarter. Spurstone Advisory Services LLC acquired a new position in The Hartford Insurance Group during the fourth quarter worth $33,000. Center for Financial Planning Inc. acquired a new position in The Hartford Insurance Group during the first quarter worth $33,000. Itau Unibanco Holding S.A. acquired a new position in The Hartford Insurance Group during the fourth quarter worth $35,000. Finally, Meeder Asset Management Inc. raised its holdings in The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after buying an additional 161 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Raymond James Financial restated an "outperform" rating and set a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Citigroup initiated coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 target price for the company. UBS Group upped their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Finally, Keefe, Bruyette & Woods upped their target price on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $137.64.

The Hartford Insurance Group Stock Performance

HIG traded up $0.7780 during trading on Friday, hitting $133.9780. 1,459,319 shares of the company traded hands, compared to its average volume of 1,481,287. The firm has a market cap of $37.67 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 1.29 and a beta of 0.67. The stock's fifty day moving average is $125.64 and its 200 day moving average is $122.44. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $134.94.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.58. The company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.50 earnings per share. As a group, equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a yield of 1.6%. The Hartford Insurance Group's dividend payout ratio is presently 18.86%.

Insiders Place Their Bets

In related news, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.50% of the company's stock.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.