512,533 Shares in The Hartford Insurance Group, Inc. $HIG Purchased by SEB Asset Management AB

SEB Asset Management AB purchased a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 512,533 shares of the insurance provider’s stock, valued at approximately $69,310,000. SEB Asset Management AB owned approximately 0.19% of The Hartford Insurance Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in HIG. Y Intercept Hong Kong Ltd purchased a new stake in shares of The Hartford Insurance Group during the first quarter valued at approximately $4,131,000. Nordea Investment Management AB boosted its position 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 purchasing an additional 81,712 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in The Hartford Insurance Group by 22.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 182,453 shares of the insurance provider’s stock worth $24,971,000 after purchasing an additional 32,846 shares during the last quarter. Abacus Wealth Partners LLC bought a new position in The Hartford Insurance Group in the 4th quarter valued at $1,971,000. Finally, Goelzer Investment Management Inc. purchased a new stake in shares of The Hartford Insurance Group during the 4th quarter valued at $1,213,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Transactions at The Hartford Insurance Group

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HIG. Cantor Fitzgerald lifted their target price on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Wells Fargo & Company raised their price objective on shares of The Hartford Insurance Group from $154.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. UBS Group lowered their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Finally, Mizuho boosted their target price on shares of 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. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $148.38.

The Hartford Insurance Group Stock Performance

Shares of HIG stock opened at $140.26 on Friday. The firm’s 50 day moving average is $133.04 and its 200 day moving average is $135.40. The stock has a market capitalization of $38.45 billion, a P/E ratio of 9.86, a PEG ratio of 3.81 and a beta of 0.47. The Hartford Insurance Group, Inc. has a 12 month low of $120.33 and a 12 month high of $144.50. 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 (NYSE:HIG) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The business had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 12.74 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

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

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.