Forsta AP Fonden Purchases 2,300 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Forsta AP Fonden increased its stake in The Hartford Insurance Group by 2.0% during the first quarter, bringing its total holdings to 118,800 shares worth approximately $14.7 million.
• The Hartford recently reported $3.41 EPS for its quarterly earnings, exceeding analysts' expectations by $0.58, with revenue growing 7.7% year-over-year.
• A quarterly dividend of $0.52 per share was announced, reflecting an annualized yield of 1.6%, with the ex-dividend date set for September 2nd.

Forsta AP Fonden increased its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 2.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 118,800 shares of the insurance provider's stock after purchasing an additional 2,300 shares during the period. Forsta AP Fonden's holdings in The Hartford Insurance Group were worth $14,699,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HIG. Golden State Wealth Management LLC lifted its position in The Hartford Insurance Group by 167.8% in the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock worth $39,000 after buying an additional 198 shares in the last quarter. Sharp Financial Services LLC purchased a new stake in The Hartford Insurance Group in the 1st quarter worth approximately $260,000. Oppenheimer & Co. Inc. lifted its position in The Hartford Insurance Group by 86.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock worth $533,000 after buying an additional 2,000 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in The Hartford Insurance Group in the 1st quarter worth approximately $233,000. Finally, Aurora Investment Counsel purchased a new stake in The Hartford Insurance Group in the 1st quarter worth approximately $2,434,000. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Stock Performance

HIG traded up $0.71 during trading on Tuesday, hitting $129.05. The stock had a trading volume of 927,559 shares, compared to its average volume of 1,660,093. The firm has a market cap of $36.28 billion, a PE ratio of 11.70, a P/E/G ratio of 1.26 and a beta of 0.67. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $132.09. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The company has a 50 day simple moving average of $124.81 and a 200-day simple moving average of $121.41.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.50 EPS. Analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

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

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the sale, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HIG shares. Keefe, Bruyette & Woods increased 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 report on Monday, August 4th. Barclays cut their price target on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. Raymond James Financial restated an "outperform" rating and set a $140.00 price target (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 report on Saturday, August 2nd. Finally, UBS Group raised their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a report on Monday, August 4th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $136.42.

The Hartford Insurance Group Profile

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.