The Hartford Insurance Group, Inc. $HIG Shares Bought by KBC Group NV

Key Points

• KBC Group NV raised its stake in The Hartford by 8.2% to 625,105 shares, worth $86.14 million, while institutional investors collectively own 93.42% of the company.
• The Hartford beat earnings in the latest quarter with EPS of $4.06 versus $3.22 expected and revenue of $7.31 billion, and it pays a $0.60 quarterly dividend (annualized $2.40, ~1.7% yield).
• Significant insider selling occurred recently—executives sold 349,282 shares worth $48.18 million over the past 90 days (including CEO and EVP reductions), leaving insiders with 1.50% ownership.

KBC Group NV raised its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 625,105 shares of the insurance provider's stock after purchasing an additional 47,527 shares during the quarter. KBC Group NV owned 0.22% of The Hartford Insurance Group worth $86,140,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group in the third quarter worth about $26,000. Princeton Global Asset Management LLC acquired a new position in The Hartford Insurance Group in the third quarter valued at approximately $27,000. Cornerstone Planning Group LLC lifted its holdings in The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 184 shares during the period. Sunbelt Securities Inc. purchased a new stake in The Hartford Insurance Group in the 3rd quarter worth approximately $29,000. Finally, United Financial Planning Group LLC acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $29,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the transaction, the executive vice president owned 25,392 shares of the company's stock, valued at $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Swift sold 201,938 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $136.41, for a total value of $27,546,362.58. Following the transaction, the chief executive officer directly owned 194,817 shares of the company's stock, valued at $26,574,986.97. The trade was a 50.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 349,282 shares of company stock worth $48,184,324 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

The Hartford Insurance Group Trading Up 0.0%

Shares of NYSE:HIG opened at $138.79 on Thursday. The business's 50 day moving average price is $138.11 and its 200-day moving average price is $134.49. The Hartford Insurance Group, Inc. has a 1 year low of $113.27 and a 1 year high of $144.50. The firm has a market capitalization of $38.29 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 1.35 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping the consensus estimate of $3.22 by $0.84. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.94 EPS. On average, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Monday, March 2nd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, March 2nd. The Hartford Insurance Group's dividend payout ratio is 17.99%.

Wall Street Analysts Forecast Growth

HIG has been the subject of several analyst reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $149.00 target price (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday, March 30th. Cantor Fitzgerald dropped their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Morgan Stanley lifted their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the company an "equal weight" rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. upped their price objective on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 7th. Finally, Evercore increased their target price on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an "in-line" rating in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $149.56.

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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