Andra AP fonden Cuts Position in The Hartford Insurance Group, Inc. $HIG

Andra AP fonden reduced its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 40.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 42,000 shares of the insurance provider’s stock after selling 29,100 shares during the quarter. Andra AP fonden’s holdings in The Hartford Insurance Group were worth $5,680,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in The Hartford Insurance Group by 286,241.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after buying an additional 73,835,976 shares during the period. Norges Bank purchased a new stake in The Hartford Insurance Group during the fourth quarter worth approximately $611,724,000. Allianz Asset Management GmbH increased its position in shares of The Hartford Insurance Group by 131.1% in the fourth quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider’s stock worth $224,901,000 after acquiring an additional 925,789 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of The Hartford Insurance Group by 6,431.8% in the third quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock worth $85,829,000 after acquiring an additional 633,592 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI raised its stake in shares of The Hartford Insurance Group by 208.2% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 799,973 shares of the insurance provider’s stock valued at $106,708,000 after acquiring an additional 540,445 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on HIG shares. Keefe, Bruyette & Woods lifted their target price on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Bank of America increased their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. boosted their price objective on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Cantor Fitzgerald upped their target price on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, The Hartford Insurance Group has a consensus rating of “Hold” and a consensus price target of $148.75.

Insider Buying and Selling at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

The Hartford Insurance Group Trading Down 0.8%

NYSE HIG opened at $140.84 on Thursday. The stock has a market cap of $38.61 billion, a P/E ratio of 9.90, a PEG ratio of 3.87 and a beta of 0.47. The company’s fifty day simple moving average is $133.54 and its 200-day simple moving average is $135.44. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the business posted $2.20 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts predict that The Hartford Insurance Group, Inc. will post 12.69 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio is presently 16.87%.

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.