The Hartford Insurance Group, Inc. $HIG Position Boosted by Nordea Investment Management AB

Nordea Investment Management AB increased its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 1.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,389,329 shares of the insurance provider’s stock after purchasing an additional 81,712 shares during the period. Nordea Investment Management AB owned 1.58% of The Hartford Insurance Group worth $606,956,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HIG. Norges Bank acquired a new position in shares of The Hartford Insurance Group in the 2nd quarter worth approximately $506,329,000. Franklin Resources Inc. increased its holdings in shares of The Hartford Insurance Group by 51.5% in the 2nd quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider’s stock valued at $414,632,000 after acquiring an additional 1,111,659 shares during the last quarter. Danske Bank A S acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at approximately $91,398,000. Balyasny Asset Management L.P. lifted its stake in The Hartford Insurance Group by 6,431.8% during the third quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock worth $85,829,000 after purchasing an additional 633,592 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in The Hartford Insurance Group by 217.9% during the second quarter. Qube Research & Technologies Ltd now owns 832,291 shares of the insurance provider’s stock worth $105,593,000 after purchasing an additional 570,521 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $132.87 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market capitalization of $36.65 billion, a PE ratio of 9.96, a P/E/G ratio of 1.29 and a beta of 0.60. The Hartford Insurance Group, Inc. has a 1-year low of $107.49 and a 1-year high of $144.50. The business’s fifty day moving average price is $136.64 and its two-hundred day moving average price is $133.91.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping 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 analyst estimates of $7.29 billion. During the same quarter in the prior year, the firm earned $2.94 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be given a $0.60 dividend. The ex-dividend date is Monday, March 2nd. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is 17.99%.

Insiders Place Their Bets

In other news, EVP Lori A. Rodden sold 40,693 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 25,392 shares in the company, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher Swift sold 201,938 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total value of $27,546,362.58. Following the completion of the transaction, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at $26,574,986.97. This trade represents a 50.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 384,621 shares of company stock worth $53,010,925. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Mizuho began coverage on shares of The Hartford Insurance Group in a research note on Tuesday, December 16th. They set an “outperform” rating and a $160.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Evercore boosted their price objective on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a research report on Wednesday, January 7th. Argus increased their price objective on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Finally, Royal Bank Of Canada assumed coverage on shares of 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 analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and a consensus 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.