DNB Asset Management AS Sells 5,520 Shares of The Hartford Insurance Group, Inc. $HIG

DNB Asset Management AS cut its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 276,182 shares of the insurance provider’s stock after selling 5,520 shares during the quarter. DNB Asset Management AS’s holdings in The Hartford Insurance Group were worth $36,840,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Armstrong Advisory Group Inc. grew its position in The Hartford Insurance Group by 5.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider’s stock worth $195,000 after purchasing an additional 80 shares during the period. Mather Group LLC. boosted 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 holdings in shares of The Hartford Insurance Group by 0.4% in the third quarter. Monument Capital Management now owns 24,314 shares of the insurance provider’s stock worth $3,243,000 after acquiring an additional 85 shares during the period. Fidelis Capital Partners LLC lifted its holdings in The Hartford Insurance Group by 4.4% in the second quarter. Fidelis Capital Partners LLC now owns 2,037 shares of the insurance provider’s stock valued at $262,000 after acquiring an additional 86 shares during the period. Finally, REAP Financial Group LLC boosted its position 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 purchasing an additional 89 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Performance

HIG opened at $140.91 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 0.31. The stock has a market capitalization of $38.87 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.37 and a beta of 0.61. The company has a fifty day moving average of $137.07 and a 200 day moving average of $133.34. The Hartford Insurance Group, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating the consensus estimate of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the firm earned $2.94 EPS. The business’s revenue was up 6.7% on a year-over-year basis. As a group, sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s payout ratio is presently 17.99%.

Insider Transactions at The Hartford Insurance Group

In other news, 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 directly owned 18,400 shares in the company, valued at approximately $2,609,672. This represents a 23.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of the business’s stock in a transaction on 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 owned 77,574 shares in the company, valued at $10,595,056.92. This represents a 31.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 343,928 shares of company stock valued at $47,393,256 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

HIG has been the subject of several research reports. Piper Sandler upped their price target on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Wall Street Zen cut shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Citigroup lifted their price target on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Roth Mkm boosted 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 report on Friday, January 30th. Finally, Royal Bank Of Canada initiated coverage on The Hartford Insurance Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.13.

About The Hartford Insurance Group

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.