Swiss National Bank Trims Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• Swiss National Bank trimmed its stake in The Hartford by 5.2% in Q3, selling 44,900 shares and now holds 819,000 shares (about 0.29%) valued at roughly $109.25 million.
• Insiders have been net sellers: CFO Beth Ann Costello sold 35,339 shares and EVP Lori A. Rodden sold 5,681 shares, with insiders offloading 343,928 shares worth about $47.39 million over the past three months (insiders now own 1.60%).
• The company beat earnings with $4.06 EPS vs. $3.22 expected and $7.31B revenue, announced a $0.60 quarterly dividend (1.7% yield), and analysts' average target is $148.13 (consensus: Moderate Buy).

Swiss National Bank lowered its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 819,000 shares of the insurance provider's stock after selling 44,900 shares during the quarter. Swiss National Bank owned about 0.29% of The Hartford Insurance Group worth $109,246,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Armstrong Advisory Group Inc. increased its stake in shares of The Hartford Insurance Group by 5.8% during the third quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider's stock valued at $195,000 after purchasing an additional 80 shares in the last quarter. Mather Group LLC. grew its stake in shares of The Hartford Insurance Group by 4.5% in the 3rd quarter. Mather Group LLC. now owns 1,929 shares of the insurance provider's stock worth $257,000 after buying an additional 83 shares during the last quarter. Monument Capital Management grew its stake in shares of The Hartford Insurance Group by 0.4% in the 3rd quarter. Monument Capital Management now owns 24,314 shares of the insurance provider's stock worth $3,243,000 after buying an additional 85 shares during the last quarter. Fidelis Capital Partners LLC increased its position in The Hartford Insurance Group by 4.4% during the 2nd quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider's stock valued at $262,000 after buying an additional 86 shares in the last quarter. Finally, REAP Financial Group LLC boosted its holdings in The Hartford Insurance Group by 12.7% in the third quarter. REAP Financial Group LLC now owns 790 shares of the insurance provider's stock worth $105,000 after acquiring an additional 89 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of the business's stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the completion of the sale, the chief financial officer directly owned 77,574 shares in the company, valued at $10,595,056.92. The trade was a 31.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lori A. Rodden sold 5,681 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $141.83, for a total transaction of $805,736.23. Following the completion of the transaction, the executive vice president owned 18,400 shares in the company, valued at $2,609,672. This trade represents a 23.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 343,928 shares of company stock valued at $47,393,256. Insiders own 1.60% of the company's stock.

The Hartford Insurance Group Stock Down 0.6%

HIG opened at $137.18 on Wednesday. The stock has a market capitalization of $37.84 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 1.34 and a beta of 0.60. The firm has a 50 day moving average price of $137.20 and a 200-day moving average price of $133.86. The Hartford Insurance Group, Inc. has a twelve month low of $107.49 and a twelve month high of $144.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping analysts' consensus estimates of $3.22 by $0.84. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The firm's revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.94 EPS. Equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, March 2nd. The Hartford Insurance Group's dividend payout ratio is 17.99%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HIG shares. Royal Bank Of Canada initiated coverage on The Hartford Insurance Group in a research note on Tuesday, November 25th. They issued a "sector perform" rating and a $145.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 7th. Roth Mkm raised their price objective on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, January 30th. Cantor Fitzgerald increased their price target on shares of The Hartford Insurance Group from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Monday, February 2nd. Finally, Evercore upped their price objective on The Hartford Insurance Group from $137.00 to $145.00 and gave the company an "in-line" rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $148.13.

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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