The Hartford Insurance Group, Inc. $HIG Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden boosted its stake in The Hartford Insurance Group by 89.3% in the first quarter, buying 60,050 additional shares and bringing its total to 127,314 shares worth about $17.2 million.
• The Hartford reported Q1 earnings that missed expectations, posting $3.09 EPS versus the $3.39 consensus and revenue of $7.23 billion versus $7.41 billion expected, though revenue still rose 6.1% year over year.
• The company recently paid a quarterly dividend of $0.60 per share, while analysts currently have a mixed but generally positive view with a Moderate Buy consensus and an average target price of $147.31.

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 89.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,314 shares of the insurance provider's stock after buying an additional 60,050 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in The Hartford Insurance Group were worth $17,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new position in The Hartford Insurance Group during the first quarter valued at $207,000. NewEdge Advisors LLC increased its stake in shares of The Hartford Insurance Group by 1.6% during the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider's stock worth $7,122,000 after purchasing an additional 886 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of The Hartford Insurance Group by 3.9% during the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider's stock worth $21,297,000 after purchasing an additional 6,285 shares in the last quarter. HUB Investment Partners LLC raised its position in shares of The Hartford Insurance Group by 9.8% during the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider's stock worth $878,000 after purchasing an additional 619 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted 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 valued at $24,488,000 after buying an additional 39,220 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Price Performance

HIG stock opened at $137.52 on Friday. The Hartford Insurance Group, Inc. has a 1 year low of $119.61 and a 1 year high of $144.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $37.70 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 2.53 and a beta of 0.47. The business has a 50 day simple moving average of $132.49 and a 200-day simple moving average of $135.45.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $7.23 billion for the quarter, compared to analysts' expectations of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 EPS. Equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.9 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group's dividend payout ratio (DPR) is 16.87%.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president owned 38,208 shares of the company's stock, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on HIG. Wells Fargo & Company lowered their price objective on The Hartford Insurance Group from $165.00 to $154.00 and set an "overweight" rating on the stock in a report on Friday, June 5th. Keefe, Bruyette & Woods dropped their price target on The Hartford Insurance Group from $149.00 to $142.00 and set a "market perform" rating for the company in a research report on Thursday, June 4th. Weiss Ratings downgraded The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday, May 27th. Barclays lowered their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, June 12th. Finally, Mizuho reduced their target price on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an "outperform" rating for the company in a research report on Friday, June 5th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $147.31.

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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