Tredje AP fonden Grows Stake in The Hartford Insurance Group, Inc. $HIG

Tredje AP fonden increased its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 15.1% in the 4th quarter, HoldingsChannel reports. The fund owned 49,032 shares of the insurance provider’s stock after acquiring an additional 6,431 shares during the period. Tredje AP fonden’s holdings in The Hartford Insurance Group were worth $6,757,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of The Hartford Insurance Group by 286,241.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after purchasing an additional 73,835,976 shares during the last quarter. State Street Corp increased its holdings in The Hartford Insurance Group by 0.4% during the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after purchasing an additional 55,983 shares during the period. Invesco Ltd. raised its holdings in shares of The Hartford Insurance Group by 10.3% in the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock valued at $711,141,000 after acquiring an additional 496,821 shares in the last quarter. Nordea Investment Management AB raised its stake in The Hartford Insurance Group by 1.9% in the fourth quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider’s stock worth $606,956,000 after buying an additional 81,712 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in The Hartford Insurance Group by 3.3% during the third quarter. Franklin Resources Inc. now owns 3,376,931 shares of the insurance provider’s stock worth $450,449,000 after buying an additional 108,765 shares during the period. 93.42% of the stock is currently owned by institutional investors.

Insider Activity

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction dated Tuesday, March 10th. The shares were 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 in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Trading Down 1.2%

The Hartford Insurance Group stock opened at $134.90 on Wednesday. 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 Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. The stock’s 50 day simple moving average is $135.70 and its two-hundred day simple moving average is $135.67. The firm has a market cap of $36.98 billion, a PE ratio of 9.48, a P/E/G ratio of 2.45 and a beta of 0.50.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The company had revenue of $14.45 billion during the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 earnings per share. Analysts anticipate that The Hartford Insurance Group, Inc. will post 13.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a research report on Monday, March 30th. Roth Mkm boosted their target price on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. UBS Group cut their price target on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $149.31.

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.