Swedbank AB Boosts Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Swedbank AB has increased its holdings in The Hartford Insurance Group by 3.3%, now owning 646,032 shares worth approximately $81.96 million.
• The Hartford Insurance Group reported a quarterly EPS of $3.41, significantly exceeding analysts' expectations of $2.83, with a year-over-year revenue increase of 7.7%.
• The company declared a quarterly dividend of $0.52 per share, which translates to an annual yield of 1.6%, to be paid on October 2nd.

Swedbank AB boosted its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 3.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 646,032 shares of the insurance provider's stock after acquiring an additional 20,353 shares during the period. Swedbank AB owned 0.23% of The Hartford Insurance Group worth $81,962,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tidal Investments LLC lifted its position in The Hartford Insurance Group by 2.4% during the 4th quarter. Tidal Investments LLC now owns 18,200 shares of the insurance provider's stock worth $1,991,000 after buying an additional 426 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of The Hartford Insurance Group by 454.4% during the fourth quarter. Two Sigma Investments LP now owns 72,939 shares of the insurance provider's stock worth $7,980,000 after purchasing an additional 59,783 shares during the period. Two Sigma Advisers LP increased its holdings in shares of The Hartford Insurance Group by 205.6% during the fourth quarter. Two Sigma Advisers LP now owns 38,500 shares of the insurance provider's stock worth $4,212,000 after purchasing an additional 25,900 shares during the period. CSS LLC IL bought a new position in The Hartford Insurance Group in the fourth quarter valued at approximately $899,000. Finally, EDENTREE ASSET MANAGEMENT Ltd increased its stake in The Hartford Insurance Group by 16.6% in the fourth quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 71,700 shares of the insurance provider's stock valued at $7,845,000 after acquiring an additional 10,190 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

Insider Transactions at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares of the company's stock, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on HIG shares. UBS Group lifted their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Piper Sandler upped their price objective on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Cantor Fitzgerald assumed coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set an "overweight" rating and a $152.00 price target on the stock. Wall Street Zen downgraded shares of The Hartford Insurance Group from a "buy" rating to a "hold" rating in a report on Sunday. Finally, JPMorgan Chase & Co. increased their price target on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $138.00.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock traded down $0.18 during mid-day trading on Monday, reaching $130.77. 1,167,934 shares of the company's stock traded hands, compared to its average volume of 1,428,228. The company has a market cap of $36.77 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 1.27 and a beta of 0.72. The stock has a 50 day moving average of $128.78 and a two-hundred day moving average of $125.12. 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 12-month low of $104.93 and a 12-month high of $135.17.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.58. The business had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 earnings per share. Equities 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 company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 18.86%.

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.