Raiffeisen Bank International AG Grows Position in The Hartford Insurance Group, Inc. $HIG

Raiffeisen Bank International AG lifted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 102.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,709 shares of the insurance provider’s stock after purchasing an additional 10,455 shares during the quarter. Raiffeisen Bank International AG’s holdings in The Hartford Insurance Group were worth $2,739,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of The Hartford Insurance Group in the 1st quarter worth about $207,000. Chicago Partners Investment Group LLC boosted its stake in The Hartford Insurance Group by 3.6% during the second quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider’s stock worth $303,000 after acquiring an additional 85 shares in the last quarter. Brookstone Capital Management purchased a new stake in The Hartford Insurance Group in the second quarter worth about $210,000. Forum Financial Management LP lifted its holdings in shares of The Hartford Insurance Group by 2.9% during the second quarter. Forum Financial Management LP now owns 4,898 shares of the insurance provider’s stock valued at $621,000 after purchasing an additional 140 shares during the last quarter. Finally, AlTi Global Inc. boosted its position in shares of The Hartford Insurance Group by 8.3% in the 2nd quarter. AlTi Global Inc. now owns 2,042 shares of the insurance provider’s stock worth $257,000 after purchasing an additional 156 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

NYSE HIG opened at $142.21 on Friday. The Hartford Insurance Group, Inc. has a one year low of $107.49 and a one year high of $144.50. The stock has a 50-day moving average of $136.89 and a 200 day moving average of $133.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 0.31. The company has a market capitalization of $39.63 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.49 and a beta of 0.61.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter last year, the firm posted $2.94 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group’s payout ratio is currently 17.99%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HIG shares. Weiss Ratings raised The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, February 13th. Cantor Fitzgerald raised their price target on The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Wall Street Zen cut shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Evercore increased their price objective on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a research report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of The Hartford Insurance Group from $160.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.13.

Insider Activity

In other news, EVP Lori A. Rodden sold 5,681 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $141.83, for a total value of $805,736.23. Following the transaction, the executive vice president directly owned 18,400 shares in the company, valued at $2,609,672. This trade represents a 23.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the completion of 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 343,928 shares of company stock valued at $47,393,256 in the last ninety days. 1.50% of the stock is currently owned by company insiders.

The Hartford Insurance Group Profile

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.