Handelsbanken Fonder AB Acquires 3,878 Shares of The Hartford Insurance Group, Inc. $HIG

Handelsbanken Fonder AB raised its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 6.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,140 shares of the insurance provider’s stock after purchasing an additional 3,878 shares during the quarter. Handelsbanken Fonder AB’s holdings in The Hartford Insurance Group were worth $8,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in HIG. Allianz Asset Management GmbH lifted its stake in shares of The Hartford Insurance Group by 24.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 706,293 shares of the insurance provider’s stock valued at $94,212,000 after buying an additional 140,624 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in The Hartford Insurance Group by 109.2% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,174 shares of the insurance provider’s stock valued at $3,358,000 after buying an additional 13,138 shares in the last quarter. Canada Post Corp Registered Pension Plan raised its holdings in The Hartford Insurance Group by 252.7% during the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 24,540 shares of the insurance provider’s stock valued at $3,245,000 after acquiring an additional 17,582 shares during the period. National Pension Service raised its holdings in The Hartford Insurance Group by 6.7% during the 3rd quarter. National Pension Service now owns 509,580 shares of the insurance provider’s stock valued at $67,973,000 after acquiring an additional 31,912 shares during the period. Finally, Raiffeisen Bank International AG lifted its position in shares of The Hartford Insurance Group by 102.0% during the third quarter. Raiffeisen Bank International AG now owns 20,709 shares of the insurance provider’s stock worth $2,739,000 after acquiring an additional 10,455 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HIG shares. Evercore lifted their price target on 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. Citigroup raised their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Wells Fargo & Company upped their price target on The Hartford Insurance Group from $153.00 to $156.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. UBS Group increased their price target on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Finally, Piper Sandler raised 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 research report on Monday, December 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.13.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, CEO Christopher Swift sold 100,970 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the sale, the chief executive officer owned 194,817 shares in the company, valued at $27,426,337.26. This trade represents a 34.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $805,736.23. Following the sale, the executive vice president directly owned 18,400 shares of the company’s stock, valued at approximately $2,609,672. This trade represents a 23.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 343,928 shares of company stock valued at $47,393,256. Insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $140.69 on Monday. The Hartford Insurance Group, Inc. has a 12-month low of $107.49 and a 12-month high of $144.50. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The company has a market cap of $38.81 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.37 and a beta of 0.60. The stock has a 50-day moving average price of $137.11 and a 200-day moving average price of $133.47.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, beating 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 business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the firm posted $2.94 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, equities analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders 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 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 17.99%.

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.