Handelsbanken Fonder AB Has $11.03 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Handelsbanken Fonder AB increased its stake in The Hartford Insurance Group by 26.7% in the fourth quarter, ending with 80,015 shares valued at about $11.03 million.
• The Hartford reported quarterly earnings of $3.09 per share, below analyst expectations of $3.39, while revenue came in at $7.23 billion versus an expected $7.41 billion.
• The company announced a quarterly dividend of $0.60 per share, payable July 2, implying a 1.8% annualized yield; analysts currently rate the stock a Moderate Buy with a consensus price target of $149.31.

Handelsbanken Fonder AB increased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 26.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 80,015 shares of the insurance provider's stock after buying an additional 16,875 shares during the quarter. Handelsbanken Fonder AB's holdings in The Hartford Insurance Group were worth $11,026,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in HIG. Cornerstone Planning Group LLC raised its stake in The Hartford Insurance Group by 707.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider's stock worth $26,000 after buying an additional 184 shares during the period. JPL Wealth Management LLC acquired a new position in The Hartford Insurance Group during the 3rd quarter worth approximately $26,000. United Financial Planning Group LLC acquired a new position in The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. Sunbelt Securities Inc. acquired a new position in The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC raised its stake in The Hartford Insurance Group by 144.8% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider's stock worth $35,000 after buying an additional 152 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $136.02 on Friday. The company has a market cap of $37.29 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 2.46 and a beta of 0.50. The Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50. The business has a 50 day moving average price of $135.66 and a 200-day moving average price of $135.84. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $7.23 billion during the quarter, compared to analysts' expectations of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. Equities analysts anticipate that The Hartford Insurance Group, Inc. will post 13.14 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group's dividend payout ratio is 16.87%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Barclays dropped their price target on The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating on the stock in a research note on Friday, April 24th. UBS Group dropped their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, April 27th. Cantor Fitzgerald dropped their price target on The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Finally, Morgan Stanley increased their price objective on 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $149.31.

Insider Activity at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was 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 of the company's stock, valued at approximately $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 SEC, which can be accessed through this link. Insiders own 1.30% of the company's stock.

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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