Swiss Life Asset Management Ltd Raises Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Swiss Life Asset Management Ltd boosted its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 31.9% during the third quarter, Holdings Channel.com reports. The fund owned 127,664 shares of the insurance provider’s stock after acquiring an additional 30,868 shares during the period. Swiss Life Asset Management Ltd’s holdings in The Hartford Insurance Group were worth $17,029,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JPL Wealth Management LLC purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter worth $26,000. Princeton Global Asset Management LLC bought a new position in shares of The Hartford Insurance Group during the 3rd quarter valued at approximately $27,000. Cornerstone Planning Group LLC raised its stake in The Hartford Insurance Group by 707.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 184 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of The Hartford Insurance Group in the third quarter worth $29,000. Finally, United Financial Planning Group LLC bought a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HIG. Royal Bank Of Canada began 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 objective for the company. Piper Sandler increased their price objective on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Evercore lifted 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. UBS Group upped their target price on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Finally, Keefe, Bruyette & Woods raised their target price on shares of The Hartford Insurance Group from $160.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.13.

The Hartford Insurance Group Trading Down 1.0%

Shares of NYSE HIG opened at $131.35 on Friday. The Hartford Insurance Group, Inc. has a 1-year low of $107.49 and a 1-year high of $144.50. 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 business’s 50 day moving average is $136.71 and its two-hundred day moving average is $133.89. The stock has a market capitalization of $36.23 billion, a P/E ratio of 9.85, a PEG ratio of 1.29 and a beta of 0.60.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.84. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the company earned $2.94 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be given a dividend of $0.60 per share. The ex-dividend date is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s payout ratio is 17.99%.

Insider Activity

In related news, CEO Christopher Swift sold 100,970 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total value of $14,214,556.60. Following the sale, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at $27,426,337.26. This represents a 34.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lori A. Rodden sold 40,693 shares of the firm’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 completion of the sale, the executive vice president directly owned 25,392 shares of the company’s stock, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 384,621 shares of company stock valued at $53,010,925. 1.50% of the stock is currently owned by company insiders.

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.