347,961 Shares in The Hartford Insurance Group, Inc. $HIG Purchased by Danske Bank A S

Danske Bank A S acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 347,961 shares of the insurance provider’s stock, valued at approximately $46,112,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealthfront Advisers LLC bought a new position in shares of The Hartford Insurance Group during the 2nd quarter worth approximately $7,812,000. Foster & Motley Inc. bought a new stake in The Hartford Insurance Group in the 2nd quarter valued at $13,953,000. Navigoe LLC acquired a new stake in The Hartford Insurance Group during the 2nd quarter valued at $27,000. Equity Investment Corp acquired a new stake in The Hartford Insurance Group during the 2nd quarter valued at $75,499,000. Finally, Meeder Advisory Services Inc. bought a new position in The Hartford Insurance Group during the second quarter worth $817,000. 93.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on HIG shares. Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Piper Sandler restated a “neutral” rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. Mizuho lifted their target price on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. UBS Group decreased 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, Zacks Research cut shares of The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $149.67.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president owned 38,208 shares of the company’s stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

The Hartford Insurance Group Stock Down 0.8%

HIG stock opened at $137.83 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $37.33 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 3.41 and a beta of 0.46. The business’s fifty day moving average price is $137.25 and its two-hundred day moving average price is $136.62. The Hartford Insurance Group, Inc. has a fifty-two week low of $120.33 and a fifty-two week high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the previous year, the business posted $3.41 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s payout ratio is 15.51%.

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.