Swiss National Bank Increases Stock Position in The Hartford Insurance Group, Inc. $HIG

Swiss National Bank grew its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 817,800 shares of the insurance provider’s stock after acquiring an additional 47,300 shares during the quarter. Swiss National Bank’s holdings in The Hartford Insurance Group were worth $110,591,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of HIG. Mediolanum International Funds Ltd grew its stake in The Hartford Insurance Group by 51.1% during the first quarter. Mediolanum International Funds Ltd now owns 49,079 shares of the insurance provider’s stock worth $6,598,000 after buying an additional 16,605 shares during the period. California Public Employees Retirement System increased its holdings in The Hartford Insurance Group by 0.3% in the 1st quarter. California Public Employees Retirement System now owns 787,611 shares of the insurance provider’s stock valued at $106,509,000 after purchasing an additional 2,038 shares in the last quarter. Advisortrust Partners LLC raised its position in The Hartford Insurance Group by 9.1% in the first quarter. Advisortrust Partners LLC now owns 2,124 shares of the insurance provider’s stock valued at $287,000 after purchasing an additional 177 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of The Hartford Insurance Group during the first quarter worth about $64,000. Finally, Assetmark Inc. boosted its position in shares of The Hartford Insurance Group by 4.4% in the first quarter. Assetmark Inc. now owns 768,041 shares of the insurance provider’s stock worth $103,862,000 after buying an additional 32,135 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Stock Up 0.2%

NYSE:HIG opened at $140.54 on Tuesday. 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 stock has a 50 day moving average of $133.21 and a 200-day moving average of $135.39. The firm has a market capitalization of $38.53 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 3.81 and a beta of 0.47. The Hartford Insurance Group, Inc. has a 52 week low of $120.33 and a 52 week high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS 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 for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the prior year, the company posted $2.20 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. Analysts predict that The Hartford Insurance Group, Inc. will post 12.74 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s payout ratio is presently 16.87%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HIG. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Bank of America raised their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. UBS Group decreased their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Wells Fargo & Company lifted their target price on The Hartford Insurance Group from $154.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Barclays reduced their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Hold” and an average price target of $148.75.

Insider Buying and Selling

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business’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 sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.

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.