Nordea Investment Management AB Sells 6,767 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Nordea Investment Management AB reduced its stake in The Hartford Insurance Group by 0.2%, selling 6,767 shares, resulting in ownership of approximately 4.09 million shares valued at $513.67 million.
• Recent insider transactions included EVP Donald Christian Hunt selling 2,124 shares and CFO Beth Ann Costello selling 35,340 shares, indicating notable insider selling activity.
• The Hartford Insurance Group declared a quarterly dividend of $0.52 per share with an annualized yield of 1.7%, reinforcing its commitment to returning capital to shareholders.

Nordea Investment Management AB trimmed its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,091,676 shares of the insurance provider's stock after selling 6,767 shares during the period. Nordea Investment Management AB owned about 1.44% of The Hartford Insurance Group worth $513,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp grew its holdings in The Hartford Insurance Group by 11.3% during the 1st quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider's stock worth $487,077,000 after acquiring an additional 398,950 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of 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 valued at $434,181,000 after buying an additional 60,116 shares in the last quarter. Bahl & Gaynor Inc. boosted its holdings 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 buying an additional 684,390 shares in the last quarter. Amundi boosted its holdings in shares of The Hartford Insurance Group by 27.4% in the 1st quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock valued at $239,905,000 after buying an additional 417,951 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its holdings in shares of The Hartford Insurance Group by 31.9% in the 1st quarter. AustralianSuper Pty Ltd now owns 1,600,215 shares of the insurance provider's stock valued at $197,995,000 after buying an additional 387,141 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Beth Ann Costello sold 35,340 shares of the firm's 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 transaction, the chief financial officer directly owned 77,574 shares of the company's stock, 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. Company insiders own 1.50% of the company's stock.

The Hartford Insurance Group Stock Down 3.7%

HIG stock opened at $123.86 on Friday. The firm has a 50 day moving average of $131.51 and a 200 day moving average of $126.47. The stock has a market capitalization of $34.83 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 1.24 and a beta of 0.69. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $135.17.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its 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 Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. During the same period last year, the business earned $2.50 EPS. The Hartford Insurance Group's revenue for the quarter was up 7.7% on a year-over-year basis. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 18.86%.

Analysts Set New Price Targets

HIG has been the topic of a number of recent analyst reports. Citigroup initiated coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 price target on the stock. Wells Fargo & Company raised their price target on shares of The Hartford Insurance Group from $139.00 to $147.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price target 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. Cantor Fitzgerald initiated coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a "neutral" rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $140.07.

The Hartford Insurance Group Company 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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