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

BI Asset Management Fondsmaeglerselskab A S boosted its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 21.7% during the 4th quarter, HoldingsChannel reports. The firm owned 314,406 shares of the insurance provider’s stock after purchasing an additional 55,971 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in The Hartford Insurance Group were worth $43,325,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in HIG. Ashton Thomas Private Wealth LLC purchased a new position in shares of The Hartford Insurance Group during the 1st quarter valued at about $207,000. NewEdge Advisors LLC lifted its position in shares of The Hartford Insurance Group by 1.6% during the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock valued at $7,122,000 after buying an additional 886 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of The Hartford Insurance Group by 3.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock valued at $21,297,000 after buying an additional 6,285 shares in the last quarter. HUB Investment Partners LLC lifted its position in shares of The Hartford Insurance Group by 9.8% during the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock valued at $878,000 after buying an additional 619 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in The Hartford Insurance Group by 25.5% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock valued at $24,488,000 after purchasing an additional 39,220 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 40,693 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 25,392 shares of the company’s stock, valued at $3,505,365.60. This represents a 61.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares in the company, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on HIG. Cantor Fitzgerald decreased their target price on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. UBS Group decreased their target price on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Wells Fargo & Company decreased their target price on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a research note on Friday. Barclays reduced their price objective on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Finally, Bank of America lifted their price objective on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.19.

The Hartford Insurance Group Price Performance

Shares of HIG stock opened at $132.25 on Friday. The Hartford Insurance Group, Inc. has a twelve month low of $119.61 and a twelve month high of $144.50. The stock has a market capitalization of $36.25 billion, a price-to-earnings ratio of 9.29, a P/E/G ratio of 2.29 and a beta of 0.47. The stock has a fifty day simple moving average of $134.89 and a two-hundred day simple moving average of $135.84. 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 (NYSE:HIG) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the prior year, the company posted $2.20 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s payout ratio is presently 16.87%.

The Hartford Insurance Group 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.