PFA Pension Forsikringsaktieselskab Makes New Investment in The Hartford Insurance Group, Inc. $HIG

Key Points

• PFA Pension bought a new stake in The Hartford (NYSE:HIG) of 13,377 shares in Q4, valued at about $1.857 million.
• The Hartford reported quarterly EPS of $3.09 (missing the $3.39 consensus) with revenue of $14.45 billion (up 6.1% YoY); the stock trades near $133.83 with a PE of 9.4 and a $36.69 billion market cap.
• There has been notable insider selling—CEOs and executives sold large stakes and insiders disposed of 147,344 shares ($20.6M) in the last 90 days—while institutional investors own 93.42% of the company.

PFA Pension Forsikringsaktieselskab purchased a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,377 shares of the insurance provider's stock, valued at approximately $1,857,000.

A number of other institutional investors have also bought and sold shares of HIG. Ashton Thomas Private Wealth LLC purchased a new stake in The Hartford Insurance Group in the 1st quarter worth $207,000. NewEdge Advisors LLC increased its stake in The Hartford Insurance Group by 1.6% in the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider's stock worth $7,122,000 after buying an additional 886 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in The Hartford Insurance Group by 3.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider's stock worth $21,297,000 after buying an additional 6,285 shares in the last quarter. HUB Investment Partners LLC increased its stake in The Hartford Insurance Group by 9.8% in the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider's stock worth $878,000 after buying an additional 619 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in The Hartford Insurance Group by 25.5% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider's stock worth $24,488,000 after buying an additional 39,220 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Down 1.5%

HIG opened at $133.83 on Tuesday. 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, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50. The firm has a 50-day simple moving average of $137.31 and a two-hundred day simple moving average of $134.97. The company has a market capitalization of $36.69 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 2.42 and a beta of 0.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $14.45 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the business posted $2.20 EPS. The firm's revenue was up 6.1% on a year-over-year basis. Analysts forecast that The Hartford Insurance Group, Inc. will post 13.26 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Monday, March 2nd were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 16.87%.

Insider Transactions at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the transaction, the executive vice president owned 25,392 shares of the company's stock, valued at approximately $3,505,365.60. This trade represents a 61.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Swift sold 100,970 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the completion of the transaction, the chief executive officer directly owned 194,817 shares of the company's stock, valued at approximately $27,426,337.26. The trade was a 34.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 147,344 shares of company stock valued at $20,637,961. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on HIG. Weiss Ratings raised shares of The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, February 13th. Morgan Stanley increased their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company an "equal weight" rating in a report on Tuesday, February 3rd. UBS Group dropped their price objective 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. Evercore increased their price objective on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an "in-line" rating in a report on Wednesday, January 7th. Finally, Citigroup increased their price objective on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a "neutral" rating in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.31.

The Hartford Insurance Group Company 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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