The Hartford Insurance Group, Inc. $HIG Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB increased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,307,617 shares of the insurance provider’s stock after acquiring an additional 215,941 shares during the quarter. Nordea Investment Management AB owned approximately 1.53% of The Hartford Insurance Group worth $570,328,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of The Hartford Insurance Group in the first quarter valued at $207,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in The Hartford Insurance Group by 1,971.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,993 shares of the insurance provider’s stock valued at $633,000 after buying an additional 4,752 shares during the period. Czech National Bank increased its stake in shares of The Hartford Insurance Group by 5.1% during the 2nd quarter. Czech National Bank now owns 69,444 shares of the insurance provider’s stock valued at $8,810,000 after acquiring an additional 3,387 shares during the last quarter. Riversedge Advisors LLC boosted its position in shares of The Hartford Insurance Group by 22.5% in the second quarter. Riversedge Advisors LLC now owns 2,058 shares of the insurance provider’s stock worth $261,000 after acquiring an additional 378 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in The Hartford Insurance Group by 29.4% in the second quarter. Harbor Capital Advisors Inc. now owns 400 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 91 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Insurance Group Price Performance

HIG opened at $135.23 on Tuesday. The Hartford Insurance Group, Inc. has a twelve month low of $105.54 and a twelve month high of $140.50. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm has a market cap of $37.68 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.23 and a beta of 0.61. The company has a fifty day simple moving average of $135.10 and a 200 day simple moving average of $130.50.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the firm earned $2.53 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. Equities research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 1st were issued a dividend of $0.60 per share. The ex-dividend date was Monday, December 1st. This represents a $2.40 annualized dividend and a yield of 1.8%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 19.61%.

Analyst Ratings Changes

HIG has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Insurance Group from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Mizuho initiated coverage on The Hartford Insurance Group in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 target price on the stock. Piper Sandler lifted their target price on The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Weiss Ratings restated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Monday, December 29th. Finally, Morgan Stanley raised their price objective on The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Two investment analysts have 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.07.

Insider Activity at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 18,400 shares in the company, valued at approximately $2,252,344. This represents a 29.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Beth Ann Costello sold 35,339 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $10,595,056.92. The trade was a 31.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.60% of the company’s stock.

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.