DNB Asset Management AS Grows Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• DNB Asset Management AS increased its stake in The Hartford Insurance Group by 3.5% in the fourth quarter, bringing its holdings to 285,741 shares valued at about $39.4 million.
• Institutional ownership remains very high, with 93.42% of the stock held by hedge funds and other institutional investors, even as EVP Lori A. Rodden sold 40,693 shares in March.
• The Hartford recently reported quarterly EPS of $3.09, missing estimates, while analysts currently rate the stock Moderate Buy with a consensus price target of $149.31.

DNB Asset Management AS lifted its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 285,741 shares of the insurance provider's stock after acquiring an additional 9,559 shares during the period. DNB Asset Management AS owned 0.10% of The Hartford Insurance Group worth $39,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in The Hartford Insurance Group by 286,241.4% during the 4th 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 last quarter. State Street Corp boosted its position in 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 acquiring an additional 55,983 shares during the last quarter. Invesco Ltd. grew its stake in The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock valued at $711,141,000 after acquiring an additional 496,821 shares in the last quarter. Nordea Investment Management AB raised its holdings in The Hartford Insurance Group by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider's stock valued at $606,956,000 after acquiring an additional 81,712 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in The Hartford Insurance Group by 3.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,376,931 shares of the insurance provider's stock worth $450,449,000 after purchasing an additional 108,765 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 25,392 shares in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

The Hartford Insurance Group Trading Down 0.2%

Shares of The Hartford Insurance Group stock opened at $134.02 on Friday. The stock has a 50 day moving average of $135.86 and a 200 day moving average of $135.41. 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 firm has a market capitalization of $36.74 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 2.41 and a beta of 0.50. The Hartford Insurance Group, Inc. has a fifty-two week low of $119.61 and a fifty-two week high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly 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 business had revenue of $14.45 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $2.20 EPS. As a group, research analysts predict that The Hartford Insurance Group, Inc. will post 13.17 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd were paid 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 dividend payout ratio (DPR) is 16.87%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Roth Mkm upped their price target on The Hartford Insurance Group from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, January 30th. Weiss Ratings reissued a "buy (a-)" rating on shares of The Hartford Insurance Group in a research note on Wednesday. Mizuho upped their target price on The Hartford Insurance Group from $158.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $149.00 price target (down from $163.00) on shares of The Hartford Insurance Group in a report on Monday, March 30th. Finally, Cantor Fitzgerald lowered their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned 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 a consensus 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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