National Pension Service Has $73.60 Million Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• National Pension Service increased its stake in The Hartford Insurance Group by 4.8% in the fourth quarter, bringing its holdings to 534,073 shares valued at about $73.6 million.
• The Hartford reported quarterly earnings of $3.09 per share, which missed analyst expectations of $3.39, while revenue came in at $7.23 billion versus estimates of $7.41 billion.
• The company declared a quarterly dividend of $0.60 per share, payable July 2, for an annualized dividend yield of 1.9%.

National Pension Service lifted its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 534,073 shares of the insurance provider's stock after buying an additional 24,493 shares during the period. National Pension Service owned about 0.19% of The Hartford Insurance Group worth $73,595,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HIG. Northwestern Mutual Wealth Management Co. increased its holdings in shares of The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider's stock worth $10,178,152,000 after buying an additional 73,835,976 shares in the last quarter. Danske Bank A S acquired a new position in shares of The Hartford Insurance Group during the third quarter worth $91,398,000. Balyasny Asset Management L.P. increased its holdings in shares of The Hartford Insurance Group by 6,431.8% during the third quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider's stock worth $85,829,000 after buying an additional 633,592 shares in the last quarter. Zurich Insurance Group Ltd FI increased its holdings in shares of The Hartford Insurance Group by 208.2% during the third quarter. Zurich Insurance Group Ltd FI now owns 799,973 shares of the insurance provider's stock worth $106,708,000 after buying an additional 540,445 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of The Hartford Insurance Group by 10.3% during the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock worth $711,141,000 after buying an additional 496,821 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $127.29 on Friday. The company has a market capitalization of $34.89 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 2.28 and a beta of 0.50. The Hartford Insurance Group, Inc. has a twelve month low of $119.61 and a twelve month high of $144.50. The stock has a fifty day simple moving average of $135.47 and a 200 day simple moving average of $136.00. 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 posted its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The company had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.20 earnings per share. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group's dividend payout ratio is presently 16.87%.

Insiders Place Their Bets

In related news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the sale, the executive vice president owned 25,392 shares of the company's stock, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group lowered their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a report on Monday, April 27th. Morgan Stanley upped their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 3rd. Citigroup upped their price target on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a "neutral" rating in a report on Wednesday, February 4th. Barclays decreased their price objective on The Hartford Insurance Group from $159.00 to $156.00 and set an "overweight" rating for the company in a report on Friday, April 24th. Finally, Wells Fargo & Company increased their price objective on The Hartford Insurance Group from $156.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $149.31.

About The Hartford Insurance Group

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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