BI Asset Management Fondsmaeglerselskab A S Decreases Holdings in The Hartford Insurance Group, Inc. $HIG

BI Asset Management Fondsmaeglerselskab A S lowered its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 10.7% during the first quarter, HoldingsChannel.com reports. The fund owned 280,654 shares of the insurance provider’s stock after selling 33,752 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in The Hartford Insurance Group were worth $37,953,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Haven Private LLC raised its holdings in The Hartford Insurance Group by 1.1% during the fourth quarter. Haven Private LLC now owns 6,751 shares of the insurance provider’s stock worth $930,000 after purchasing an additional 71 shares during the last quarter. Signal Advisors Wealth LLC grew its holdings in The Hartford Insurance Group by 4.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider’s stock valued at $240,000 after purchasing an additional 75 shares during the last quarter. GW&K Investment Management LLC grew its holdings in The Hartford Insurance Group by 40.3% in the fourth quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 77 shares during the last quarter. Kestra Advisory Services LLC increased its position in shares of The Hartford Insurance Group by 0.4% in the fourth quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock valued at $2,432,000 after buying an additional 79 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC increased its position in shares of The Hartford Insurance Group by 0.7% in the fourth quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider’s stock valued at $1,810,000 after buying an additional 86 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $128.26 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a fifty-two week low of $119.61 and a fifty-two week high of $144.50. The business has a fifty day moving average of $133.61 and a 200-day moving average of $135.40. The stock has a market cap of $35.16 billion, a price-to-earnings ratio of 9.01, a price-to-earnings-growth ratio of 2.33 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last posted 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 analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.20 EPS. As a group, analysts predict that The Hartford Insurance Group, Inc. will post 13.03 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio is 16.87%.

Wall Street Analyst Weigh In

HIG has been the subject of several research reports. Keefe, Bruyette & Woods cut 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 note on Thursday, June 4th. Wells Fargo & Company lowered their price objective on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a research note on Friday, June 5th. Piper Sandler dropped their target price on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a report on Thursday, June 11th. Cantor Fitzgerald cut their target price on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $147.31.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the firm’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 sale, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

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.