The Hartford Insurance Group, Inc. $HIG Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ reduced its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,891 shares of the insurance provider’s stock after selling 11,872 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.13% of The Hartford Insurance Group worth $48,673,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at $27,000. Cornerstone Planning Group LLC boosted its position in shares of The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 184 shares during the period. Vermillion & White Wealth Management Group LLC grew its position in The Hartford Insurance Group by 72.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after buying an additional 99 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in The Hartford Insurance Group during the second quarter worth $35,000. Finally, Addison Advisors LLC boosted its holdings in The Hartford Insurance Group by 129.3% during the second quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $141.18 on Tuesday. The stock has a market cap of $39.34 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 1.09 and a beta of 0.61. The Hartford Insurance Group, Inc. has a twelve month low of $107.49 and a twelve month high of $144.50. The company’s fifty day moving average is $136.16 and its 200 day moving average is $132.61. The company has a quick ratio of 0.32, a current ratio of 0.31 and a debt-to-equity ratio of 0.23.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the previous year, the company earned $2.94 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on HIG shares. Roth Mkm increased their price objective on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Argus upped their price objective on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada started coverage on The Hartford Insurance Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price target on the stock. Piper Sandler lifted their target price on 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. Finally, JPMorgan Chase & Co. upped their price objective on The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $148.13.

Insider Activity

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 5,681 shares of The Hartford Insurance Group stock in a transaction dated 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 owned 18,400 shares in the company, valued at approximately $2,609,672. The trade was a 23.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Swift sold 201,938 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the completion of the sale, the chief executive officer owned 194,817 shares of the company’s stock, valued at approximately $26,574,986.97. The trade was a 50.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 343,928 shares of company stock worth $47,393,256 over the last three months. 1.60% of the stock is currently owned by insiders.

The Hartford Insurance Group Company 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.