Norges Bank Takes Position in The Hartford Insurance Group, Inc. $HIG

Norges Bank acquired a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,990,925 shares of the insurance provider’s stock, valued at approximately $506,329,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. LPL Financial LLC increased its holdings in The Hartford Insurance Group by 2.6% during the 1st quarter. LPL Financial LLC now owns 211,874 shares of the insurance provider’s stock worth $26,215,000 after purchasing an additional 5,295 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of The Hartford Insurance Group in the first quarter valued at about $1,031,000. Vestcor Inc boosted its position in shares of The Hartford Insurance Group by 23.5% during the first quarter. Vestcor Inc now owns 5,951 shares of the insurance provider’s stock worth $736,000 after buying an additional 1,134 shares during the period. NorthRock Partners LLC grew its holdings in shares of The Hartford Insurance Group by 2.6% during the first quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider’s stock worth $395,000 after buying an additional 80 shares in the last quarter. Finally, Natixis Advisors LLC raised its position in The Hartford Insurance Group by 4.7% in the 1st quarter. Natixis Advisors LLC now owns 189,173 shares of the insurance provider’s stock valued at $23,406,000 after buying an additional 8,567 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Hartford Insurance Group

In other news, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the transaction, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,252,344. This represents a 29.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.50% of the company’s stock.

The Hartford Insurance Group Trading Down 0.3%

NYSE HIG opened at $137.03 on Friday. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $138.64. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average of $130.30 and a 200-day moving average of $128.64. The company has a market cap of $38.18 billion, a PE ratio of 11.19, a PEG ratio of 1.19 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.76. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.53 earnings per share. On average, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on HIG shares. Evercore ISI boosted their target price on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Argus lifted 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 report on Tuesday, November 25th. Wall Street Zen lowered shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Royal Bank Of Canada started coverage on shares of The Hartford Insurance Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 target price for the company. Finally, UBS Group lifted their price target on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $143.29.

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.