Livforsakringsbolaget Skandia Omsesidigt Buys 13,600 Shares of The Hartford Insurance Group, Inc. $HIG

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 9.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 150,565 shares of the insurance provider’s stock after buying an additional 13,600 shares during the quarter. The Hartford Insurance Group comprises about 0.8% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio, making the stock its 25th largest holding. Livforsakringsbolaget Skandia Omsesidigt’s holdings in The Hartford Insurance Group were worth $20,438,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of HIG. First Pacific Financial acquired a new position in The Hartford Insurance Group in the 1st quarter valued at about $26,000. JPL Wealth Management LLC acquired a new stake in The Hartford Insurance Group during the third quarter worth approximately $26,000. Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group during the third quarter worth approximately $29,000. Barnes Dennig Private Wealth Management LLC boosted its holdings in shares of The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 152 shares during the period. Finally, Sound Income Strategies LLC grew its position in shares of The Hartford Insurance Group by 45.3% in the fourth quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 87 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Insider Activity at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Stock Down 1.8%

NYSE HIG opened at $138.22 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 company has a market cap of $37.89 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 3.22 and a beta of 0.47. The company has a 50 day moving average of $132.77 and a 200-day moving average of $135.42. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the prior year, the company earned $2.20 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that The Hartford Insurance Group, Inc. will post 12.81 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio is 16.87%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. Mizuho boosted their price target on The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Cantor Fitzgerald upped their price objective on The Hartford Insurance Group from $156.00 to $158.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Barclays lowered their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Finally, Bank of America boosted their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $148.50.

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.