The Hartford Insurance Group, Inc. $HIG Shares Bought by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd raised its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 89.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,145 shares of the insurance provider’s stock after purchasing an additional 15,643 shares during the quarter. Mediolanum International Funds Ltd’s holdings in The Hartford Insurance Group were worth $4,383,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HIG. Vanguard Group Inc. increased its stake in The Hartford Insurance Group by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 37,160,644 shares of the insurance provider’s stock valued at $4,714,571,000 after buying an additional 156,807 shares during the period. Geode Capital Management LLC increased its position in The Hartford Insurance Group by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 7,467,018 shares of the insurance provider’s stock worth $943,448,000 after purchasing an additional 57,539 shares during the period. Invesco Ltd. raised its stake in shares of The Hartford Insurance Group by 2.9% during the 2nd quarter. Invesco Ltd. now owns 4,834,472 shares of the insurance provider’s stock worth $613,349,000 after buying an additional 136,483 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of The Hartford Insurance Group by 5.3% in the 3rd quarter. Nordea Investment Management AB now owns 4,307,617 shares of the insurance provider’s stock valued at $570,328,000 after buying an additional 215,941 shares during the period. Finally, Norges Bank purchased a new stake in shares of The Hartford Insurance Group in the second quarter valued at approximately $506,329,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Cantor Fitzgerald raised their target price on The Hartford Insurance Group from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler upped their target price on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Argus increased their target price on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Evercore ISI boosted their price target on The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a research note on Wednesday, January 7th. Finally, Wells Fargo & Company lifted their price objective on The Hartford Insurance Group from $153.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, The Hartford Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.13.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock opened at $137.12 on Tuesday. The Hartford Insurance Group, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $140.50. The company has a market capitalization of $38.21 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 1.09 and a beta of 0.61. The stock has a fifty day moving average of $134.81 and a two-hundred day moving average of $131.35. 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 Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The firm had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.29 billion. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.94 EPS. On average, analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

Insider Buying and Selling at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,339 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. This represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by corporate 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.