Livforsakringsbolaget Skandia Omsesidigt Has $1.53 Million Stake in The Hartford Insurance Group, Inc. $HIG

Key Points

• Livforsakringsbolaget Skandia Omsesidigt reduced its stake in The Hartford Insurance Group by 89.1%, now holding 12,065 shares valued at approximately $1.53 million.
• The Hartford Insurance Group reported a quarterly EPS of $3.41, significantly exceeding analysts' expectations of $2.83, with revenues of $6.99 billion for the quarter.
• The company announced a quarterly dividend of $0.52 per share, with a payout ratio of 18.86% and a dividend yield of 1.6%.

Livforsakringsbolaget Skandia Omsesidigt lowered its position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 89.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,065 shares of the insurance provider's stock after selling 98,500 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in The Hartford Insurance Group were worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in The Hartford Insurance Group by 11.3% in the first quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider's stock valued at $487,077,000 after buying an additional 398,950 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of The Hartford Insurance Group by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider's stock worth $419,053,000 after purchasing an additional 234,320 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in The Hartford Insurance Group by 1.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider's stock worth $434,181,000 after acquiring an additional 60,116 shares during the period. Bahl & Gaynor Inc. raised its position in shares of The Hartford Insurance Group by 47.0% in the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock valued at $264,972,000 after purchasing an additional 684,390 shares in the last quarter. Finally, Amundi increased its position in The Hartford Insurance Group by 27.4% in the first quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock worth $239,905,000 after buying an additional 417,951 shares during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction that occurred on 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 directly owned 77,574 shares of the company's stock, valued at approximately $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

The Hartford Insurance Group Stock Performance

Shares of HIG stock traded down $0.51 during trading on Friday, reaching $130.90. The company had a trading volume of 3,393,639 shares, compared to its average volume of 1,331,511. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17. The company has a market capitalization of $36.81 billion, a PE ratio of 11.87, a PEG ratio of 1.27 and a beta of 0.72. The firm's 50 day simple moving average is $128.62 and its two-hundred day simple moving average is $124.97. 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 Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.50 EPS. Sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wolfe Research assumed coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They set a "peer perform" rating on the stock. Keefe, Bruyette & Woods raised their price target on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Piper Sandler raised their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Wells Fargo & Company raised their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Raymond James Financial reissued an "outperform" rating and set a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.