PensionDanmark Pensionsforsikringsaktieselskab Decreases Stake in The Hartford Insurance Group, Inc. $HIG

Key Points

• PensionDanmark cut its Hartford stake by 22.4% in the second quarter, selling 9,345 shares and retaining 32,415 shares valued at approximately $4.3 million. Institutional investors collectively own 93.42% of HIG.
• The Hartford reported quarterly EPS of $3.42, exceeding the $3.16 consensus estimate, while revenue rose 8.1% year over year to $7.26 billion. The company also declared a quarterly dividend of $0.60 per share, representing a 1.7% yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $149.67. HIG opened at $143.16, near its 52-week high of $146.07.

PensionDanmark Pensionsforsikringsaktieselskab lessened its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 22.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,415 shares of the insurance provider's stock after selling 9,345 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab's holdings in The Hartford Insurance Group were worth $4,296,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of HIG. Haven Private LLC boosted its position in shares of The Hartford Insurance Group by 1.1% during the 4th quarter. Haven Private LLC now owns 6,751 shares of the insurance provider's stock worth $930,000 after purchasing an additional 71 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of The Hartford Insurance Group by 40.3% in the 4th quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 77 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in shares of The Hartford Insurance Group by 0.4% in the fourth quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider's stock valued at $2,432,000 after purchasing an additional 79 shares during the period. Koshinski Asset Management Inc. boosted its holdings in The Hartford Insurance Group by 3.8% during the first quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider's stock worth $305,000 after buying an additional 82 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC boosted its holdings in The Hartford Insurance Group by 0.7% during the fourth quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider's stock worth $1,810,000 after buying an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

Insider Transactions at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the company's stock in a transaction that occurred 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 sale, the president owned 38,208 shares of the company's stock, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HIG. Wells Fargo & Company dropped their target price on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, July 27th. Bank of America boosted their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 14th. Royal Bank Of Canada upped their price target on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "sector perform" rating in a report on Monday, July 27th. Cantor Fitzgerald raised their price objective on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Finally, Weiss Ratings cut The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $149.67.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $143.16 on Monday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $38.78 billion, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 3.52 and a beta of 0.46. The firm has a 50-day moving average price of $135.64 and a two-hundred day moving average price of $136.16. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $0.26. The company had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.41 earnings per share. As a group, research analysts expect that The Hartford Insurance Group, Inc. will post 12.79 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group's payout ratio is currently 15.51%.

The Hartford Insurance Group Profile

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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