The Hartford Insurance Group, Inc. $HIG Shares Purchased by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its holdings in The Hartford Insurance Group by 20.8%, acquiring an additional 23,000 shares during the second quarter, bringing its total to 133,565 shares valued at approximately $16.99 million.
• The Hartford Insurance Group reported $3.41 EPS for the last quarter, surpassing estimates by $0.58, with a revenue of $6.99 billion, slightly below analyst expectations.
• A quarterly dividend of $0.52 per share has been announced, representing a 1.6% yield, with the dividend payout ratio currently at 18.86%.

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 20.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 133,565 shares of the insurance provider's stock after purchasing an additional 23,000 shares during the quarter. The Hartford Insurance Group comprises approximately 0.8% of Livforsakringsbolaget Skandia Omsesidigt's portfolio, making the stock its 25th largest holding. Livforsakringsbolaget Skandia Omsesidigt's holdings in The Hartford Insurance Group were worth $16,990,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park Square Financial Group LLC boosted its holdings in shares of The Hartford Insurance Group by 146.2% in the first 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 in the last quarter. Center for Financial Planning Inc. purchased a new stake in shares of The Hartford Insurance Group in the first quarter valued at about $33,000. Meeder Asset Management Inc. boosted its holdings in shares of The Hartford Insurance Group by 123.8% in the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 161 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of The Hartford Insurance Group in the first quarter valued at about $37,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of The Hartford Insurance Group by 167.8% in the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Trading Up 1.1%

HIG stock traded up $1.49 on Tuesday, hitting $132.20. 282,114 shares of the company were exchanged, compared to its average volume of 1,620,648. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The business's fifty day moving average is $128.78 and its two-hundred day moving average is $125.12. The stock has a market capitalization of $37.17 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly 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 Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the prior year, the business posted $2.50 earnings per share. The Hartford Insurance Group's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

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

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction on 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 transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This represents a 31.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HIG shares. Wall Street Zen downgraded shares of The Hartford Insurance Group from a "buy" rating to a "hold" rating in a report on Sunday. Keefe, Bruyette & Woods increased their target price on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Wells Fargo & Company lifted their price target on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Finally, Morgan Stanley lifted their price target on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, The Hartford Insurance Group has an average rating of "Hold" and an average price target of $138.00.

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.