AMF Tjanstepension AB Sells 2,068 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• AMF Tjanstepension AB reduced its stake in The Hartford Insurance Group by 1.0%, now holding 196,127 shares valued at approximately $24.3 million.
• The Hartford Insurance Group's latest quarterly earnings showed an earnings per share (EPS) of $3.41, surpassing analysts' expectations of $2.83.
• The company declared a quarterly dividend of $0.52 per share, with a record date set for September 2nd, reflecting a 1.6% yield.

AMF Tjanstepension AB lowered its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,127 shares of the insurance provider's stock after selling 2,068 shares during the period. AMF Tjanstepension AB owned 0.07% of The Hartford Insurance Group worth $24,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Park Square Financial Group LLC raised its position in shares of The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after buying an additional 155 shares during the last quarter. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Insurance Group in the fourth quarter valued at $33,000. Center for Financial Planning Inc. purchased a new position in shares of The Hartford Insurance Group in the first quarter valued at $33,000. Itau Unibanco Holding S.A. purchased a new position in shares of The Hartford Insurance Group in the fourth quarter valued at $35,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of The Hartford Insurance Group by 123.8% in the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Trading Up 0.8%

Shares of HIG traded up $0.99 during trading hours on Friday, reaching $128.20. 954,415 shares of the company traded hands, compared to its average volume of 1,635,000. The firm has a market cap of $36.04 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.26 and a beta of 0.67. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $132.09. 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 stock's fifty day moving average price is $124.83 and its 200 day moving average price is $121.21.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.58. The firm had revenue of $6.99 billion during 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 business's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.50 earnings per share. Sell-side 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 business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is currently 18.86%.

Analyst Ratings Changes

A number of research firms recently weighed in on HIG. Raymond James Financial reissued an "outperform" rating and issued a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Barclays cut their target price on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Wall Street Zen raised shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Jefferies Financial Group cut their target price on shares of The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley raised their target price on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $136.42.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the sale, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.50% of the company's stock.

The Hartford Insurance Group Company 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.