KBC Group NV Has $73.69 Million Stock Position in The Hartford Insurance Group, Inc. $HIG

KBC Group NV lessened its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 22.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 580,810 shares of the insurance provider’s stock after selling 165,099 shares during the quarter. KBC Group NV’s holdings in The Hartford Insurance Group were worth $73,687,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Jupiter Asset Management Ltd. lifted its holdings in shares of The Hartford Insurance Group by 22.0% in the second quarter. Jupiter Asset Management Ltd. now owns 514,123 shares of the insurance provider’s stock worth $65,227,000 after acquiring an additional 92,541 shares during the last quarter. National Pension Service increased its position in The Hartford Insurance Group by 0.7% during the 2nd quarter. National Pension Service now owns 477,668 shares of the insurance provider’s stock worth $60,602,000 after purchasing an additional 3,346 shares in the last quarter. CENTRAL TRUST Co lifted its stake in The Hartford Insurance Group by 59.4% in the 2nd quarter. CENTRAL TRUST Co now owns 894 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 333 shares during the last quarter. Ibex Wealth Advisors acquired a new stake in The Hartford Insurance Group in the second quarter valued at approximately $624,000. Finally, Vise Technologies Inc. bought a new stake in shares of The Hartford Insurance Group during the second quarter worth $2,107,000. 93.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the transaction, the executive vice president owned 18,400 shares in the company, valued at approximately $2,252,344. The trade was a 29.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen cut The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Morgan Stanley increased their price objective on The Hartford Insurance Group from $135.00 to $140.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. lifted their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Finally, Wolfe Research initiated coverage on The Hartford Insurance Group in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.14.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $131.20 on Wednesday. The firm has a market cap of $36.56 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 52-week low of $104.93 and a 52-week high of $135.17. The business’s 50 day moving average price is $129.45 and its two-hundred day moving average price is $127.79. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.32.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the firm posted $2.53 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be issued a $0.60 dividend. The ex-dividend date is Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.