Skandinaviska Enskilda Banken AB publ Has $49.49 Million Stock Position in The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Skandinaviska Enskilda Banken AB decreased its stake in The Hartford Insurance Group by 6.3%, owning 399,949 shares valued at approximately $49.49 million.
• The Hartford reported a quarterly EPS of $2.20, surpassing estimates and showed a year-over-year revenue increase of 6.1%, despite a decline in EPS from the previous year.
• The company announced a quarterly dividend of $0.52 per share, with a payout ratio of 20.74%, indicating stable returns for shareholders.

Skandinaviska Enskilda Banken AB publ lessened its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 399,949 shares of the insurance provider's stock after selling 26,736 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.14% of The Hartford Insurance Group worth $49,486,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of HIG. Park Square Financial Group LLC grew its holdings in shares of The Hartford Insurance Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after purchasing an additional 155 shares during the last quarter. Spurstone Advisory Services LLC acquired a new stake in shares of The Hartford Insurance Group in the 4th quarter valued at approximately $33,000. Center for Financial Planning Inc. acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at approximately $33,000. Itau Unibanco Holding S.A. acquired a new stake in shares of The Hartford Insurance Group in the 4th quarter valued at approximately $35,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at approximately $37,000. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Trading Down 0.2%

Shares of HIG opened at $122.99 on Friday. The business has a 50-day moving average of $125.86 and a 200 day moving average of $119.98. The Hartford Insurance Group, Inc. has a fifty-two week low of $102.16 and a fifty-two week high of $132.09. The firm has a market cap of $34.94 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 1.29 and a beta of 0.69. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.05. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.97 billion. The Hartford Insurance Group had a return on equity of 18.73% and a net margin of 11.10%. The business's revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.34 earnings per share. As a group, research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.69%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is currently 20.74%.

Insiders Place Their Bets

In other news, SVP Allison G. Niderno sold 1,086 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the completion of the sale, the senior vice president owned 622 shares of the company's stock, valued at $74,279.24. The trade was a 63.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Raymond James Financial increased their price target on shares of The Hartford Insurance Group from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Piper Sandler raised their price target on shares of The Hartford Insurance Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. Jefferies Financial Group decreased their target price on shares of The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Keefe, Bruyette & Woods cut their price target on The Hartford Insurance Group from $140.00 to $133.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Morgan Stanley raised their price target on The Hartford Insurance Group from $115.00 to $130.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.67.

The Hartford Insurance Group 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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