The Hartford Insurance Group, Inc. $HIG Shares Purchased by Swedbank AB

Key Points

• Swedbank AB increased its holdings in The Hartford Insurance Group by 20.8% in Q1, owning 625,679 shares worth approximately $77.4 million.
• The Hartford reported a net margin of 11.83% and $3.41 earnings per share for the last quarter, exceeding analyst expectations of $2.83.
• The company announced a quarterly dividend of $0.52 per share, with an ex-dividend date on September 2nd, reflecting an annualized yield of 1.6%.

Swedbank AB grew its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 20.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 625,679 shares of the insurance provider's stock after buying an additional 107,934 shares during the period. Swedbank AB owned 0.22% of The Hartford Insurance Group worth $77,415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in HIG. Focus Partners Wealth raised its holdings in shares of The Hartford Insurance Group by 16.9% in the fourth quarter. Focus Partners Wealth now owns 14,369 shares of the insurance provider's stock valued at $1,572,000 after buying an additional 2,077 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of The Hartford Insurance Group by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,664 shares of the insurance provider's stock valued at $14,185,000 after buying an additional 7,006 shares during the last quarter. OMERS ADMINISTRATION Corp raised its holdings in shares of The Hartford Insurance Group by 20.0% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 12,499 shares of the insurance provider's stock valued at $1,367,000 after buying an additional 2,081 shares during the last quarter. NorthRock Partners LLC purchased a new stake in shares of The Hartford Insurance Group in the fourth quarter valued at about $340,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of The Hartford Insurance Group in the fourth quarter valued at about $1,044,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,340 shares of the firm's 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 sale, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their target price on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Cantor Fitzgerald initiated coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 target price for the company. Morgan Stanley boosted their price target on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Raymond James Financial reiterated an "outperform" rating and set a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Finally, Wolfe Research initiated coverage on shares of The Hartford Insurance Group in a research note on Tuesday. They set a "peer perform" rating on the stock. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, The Hartford Insurance Group currently has a consensus rating of "Hold" and a consensus price target of $138.00.

The Hartford Insurance Group Price Performance

Shares of HIG stock traded up $1.12 during trading hours on Thursday, hitting $131.77. The company's stock had a trading volume of 533,668 shares, compared to its average volume of 1,615,884. The business has a fifty day moving average of $128.23 and a 200-day moving average of $124.75. The stock has a market cap of $37.05 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.25 and a beta of 0.72. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $135.17. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The insurance provider reported $3.41 EPS 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 analyst estimates of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.50 earnings per share. As a group, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be given a $0.52 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The Hartford Insurance Group's dividend payout ratio 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.