KLP Kapitalforvaltning AS Sells 31,200 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• KLP Kapitalforvaltning AS has reduced its stake in The Hartford Insurance Group by 11.7%, selling 31,200 shares and retaining approximately 234,394 shares valued at $29.84 million as of its latest SEC filing.
• The Hartford's recent quarterly earnings exceeded analysts' expectations, reporting $3.41 EPS against a consensus of $2.83, with revenue of $6.99 billion.
• The Hartford Insurance Group announced a quarterly dividend of $0.52, representing an annualized rate of $2.08 with a yield of 1.6%.

KLP Kapitalforvaltning AS reduced its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 11.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 234,394 shares of the insurance provider's stock after selling 31,200 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.08% of The Hartford Insurance Group worth $29,840,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Park Square Financial Group LLC increased its holdings in The Hartford Insurance Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. Center for Financial Planning Inc. bought a new stake in The Hartford Insurance Group in the 1st quarter valued at $33,000. Meeder Asset Management Inc. increased its holdings in shares of The Hartford Insurance Group by 123.8% in the 1st 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. Smallwood Wealth Investment Management LLC bought a new stake in shares of The Hartford Insurance Group in the 1st quarter worth about $37,000. Finally, Signature Resources Capital Management LLC bought a new stake in shares of The Hartford Insurance Group in the 2nd quarter worth about $38,000. 93.42% of the stock is currently owned by institutional investors.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction dated Monday, August 4th. The stock was 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 $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HIG. Wolfe Research began coverage on shares of The Hartford Insurance Group in a report on Tuesday, September 16th. They issued a "peer perform" rating on the stock. Weiss Ratings restated a "buy (a-)" rating on shares of The Hartford Insurance Group in a report on Saturday, September 27th. Raymond James Financial restated an "outperform" rating and issued a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Morgan Stanley boosted their target price on shares of The Hartford Insurance Group from $135.00 to $140.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, Evercore ISI boosted their target price on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an "in-line" rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $138.27.

The Hartford Insurance Group Price Performance

HIG stock opened at $133.64 on Wednesday. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.17. 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 moving average price of $131.05 and a 200 day moving average price of $126.16. The stock has a market cap of $37.57 billion, a PE ratio of 12.12, a P/E/G ratio of 1.28 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping analysts' consensus estimates of $2.83 by $0.58. The firm had revenue of $6.99 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 EPS. Equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is currently 18.86%.

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.

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