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Held by 332 of 2,417 reporting institutions (97th percentile) — extremely crowded.
Data as of Q3 2026
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What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 10% of free cash flow, leaving room to grow it and fund buybacks. Last year: $592.0M dividends + $1.61B buybacks = $2.21B returned on $5.75B FCF.
9 consecutive years of dividend increases · 10%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: 16%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
Ranked against 18 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CB | $138.4B | 14.1× | — | 2.3× | 6.5% | — | 17.4% | 14.0% | 11.3% | — | 718 |
| PGR | $133.4B | 12.0× | — | 1.5× | 16.3% | — | 12.9% | 37.3% | 37.3% | — | 538 |
| TRV | $81.6B | 14.5× | — | 1.7× | 5.2% | — | 12.9% | 19.1% | 18.9% | — | 645 |
| ALL | $64.7B | 6.7× | — | 1.0× | 5.6% | — | 15.2% | 33.6% | 27.0% | — | — |
| AIG | $42.6B | 15.0× | — | 1.6× | -1.7% | — | 11.6% | 7.5% | 6.2% | — | 307 |
| HIG | $35.3B | 9.9× | — | 1.2× | 6.9% | — | 13.5% | 20.2% | 16.4% | — | 332 |
| ACGL | $33.9B | 9.0× | — | 1.7× | 14.3% | — | 22.1% | 18.2% | 18.2% | — | 239 |
| CINF | $27.9B | 12.0× | — | 2.2× | 11.4% | — | 18.9% | 15.0% | 14.3% | — | 280 |
| WRB | $27.1B | 16.4× | — | 1.9× | 7.8% | — | 12.1% | 18.3% | 18.3% | — | — |
| MKL | $23.1B | 11.0× | — | 1.5× | 4.7% | — | 13.6% | 11.3% | 9.2% | — | 244 |
| L | $22.8B | 14.0× | — | 1.2× | 5.4% | — | 9.0% | 8.9% | 8.9% | — | 201 |
| EG | $15.4B | 10.6× | — | 0.9× | 1.2% | — | 9.1% | 10.3% | 10.3% | — | — |
| RNR | $13.8B | 6.0× | — | 1.1× | 9.9% | — | 20.9% | 23.1% | 19.2% | — | — |
| CNA | $13.2B | 10.4× | — | 0.9× | 5.0% | — | 8.5% | 11.0% | 8.8% | — | 72 |
| AFG | $12.7B | 15.2× | — | 1.6× | -1.8% | — | 10.3% | 17.5% | 12.7% | — | 127 |
| THG | $8.2B | 12.9× | — | 1.2× | 5.7% | — | 10.0% | 18.5% | 13.8% | — | 121 |
| KNSL | $8.2B | 16.8× | — | 4.4× | 18.0% | — | 26.9% | 25.7% | 23.1% | — | 129 |
| AXS | $7.5B | 8.3× | — | 1.1× | 10.2% | — | 15.4% | 15.9% | 15.9% | — | — |
| RLI | $5.9B | 14.8× | — | 3.1× | 6.3% | — | 21.4% | 22.7% | 21.5% | — | 102 |
Peers = companies sharing HIG's sector (Fire, Marine & Casualty Insurance) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Leverage ratios is not shown for an insurer.
Funded by policyholder float, not debt. Reserve adequacy and RBC are the right questions and are not collected yet.
Classified from the filings: SIC code.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $122.0M covers the $0 due within a year 122000000.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Interest expense isn't separately reported — often netted into “other income (expense), net.” Effective rate ~4.6% on $4.37B of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
No trend data available for this metric.
A reverse discounted cash flow is not shown for an insurer.
Funded by policyholder float, not debt. Reserve adequacy and RBC are the right questions and are not collected yet.
Classified from the filings: SIC code.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $28.37B 100.0% | $26.54B 100.0% | $24.53B 100.0% | $22.36B 100.0% | $22.39B 100.0% | $20.52B 100.0% | $20.74B 100.0% | $18.95B 100.0% | $17.16B 100.0% | $16.29B 100.0% |
| Selling, General & Admin | $5.58B 19.7% | $5.26B 19.8% | $4.88B 19.9% | $4.84B 21.6% | $4.79B 21.4% | $4.48B 21.8% | $4.58B 22.1% | $4.28B 22.6% | — | — |
| Total Operating Expenses | — | — | — | — | — | — | $4.58B 22.1% | $4.28B 22.6% | $4.56B 26.6% | $3.52B 21.6% |
| Interest Expense | $199.0M 0.7% | $199.0M 0.7% | $199.0M 0.8% | $213.0M 1.0% | $234.0M 1.0% | $236.0M 1.1% | $259.0M 1.2% | $298.0M 1.6% | $316.0M 1.8% | $327.0M 2.0% |
| Pretax Income | $4.76B 16.8% | $3.85B 14.5% | $3.09B 12.6% | $2.26B 10.1% | $2.90B 13.0% | $2.12B 10.3% | $2.56B 12.3% | $1.75B 9.2% | $723.0M 4.2% | $447.0M 2.7% |
| Income Tax Expense | $924.0M 3.3% | $738.0M 2.8% | $584.0M 2.4% | $443.0M 2.0% | $534.0M 2.4% | $383.0M 1.9% | $475.0M 2.3% | $268.0M 1.4% | $985.0M 5.7% | -$166.0M -1.0% |
| Net Income | $3.84B 13.5% | $3.11B 11.7% | $2.50B 10.2% | $1.82B 8.1% | $2.37B 10.6% | $1.74B 8.5% | $2.08B 10.1% | $1.81B 9.5% | -$3.13B -18.2% | $896.0M 5.5% |
| Per Share | ||||||||||
| EPS (Basic) | $13.51 | $10.51 | $8.09 | $5.54 | $6.73 | $4.79 | $5.72 | $5.03 | -$8.61 | $2.31 |
| EPS (Diluted) | $13.32 | $10.35 | $7.97 | $5.46 | $6.64 | $4.76 | $5.66 | $4.95 | -$8.61 | $2.27 |
| Weighted Avg Shares (Basic) | 282.4M | 293.9M | 307.1M | 324.8M | 349.1M | 358.3M | 360.9M | 358.4M | 363.7M | 387.7M |
| Weighted Avg Shares (Diluted) | 286.5M | 298.6M | 311.5M | 329.5M | 354.1M | 360.6M | 364.9M | 364.1M | 363.7M | 394.8M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-28 | Costello Beth Ann EVP and CFO | Gift | 10,000 | $0.00 | $0 |
| 2026-10-28 | Larsen Randy Director | Grant | 1,050 | $130.04 | $137k |
| 2026-10-28 | Almodovar Priscilla Director | Grant | 1,050 | $130.04 | $137k |
| 2026-08-07 | Swift Christopher Chairman and CEO | Gift |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| 35,088 |
| $0.00 |
| $0 |
| 2026-07-27 | Rippert Annette Director | Grant | 1,356 | $140.14 | $190k |
| 2026-07-27 | De Shon Larry D Director | Grant | 1,356 | $140.14 | $190k |
| 2026-07-27 | Bartlett Thomas A Director | Grant | 1,356 | $140.14 | $190k |
| 2026-07-27 | 2 co-filers Group filing | Grant | 1,356 | $140.14 | $190k |
| 2026-07-27 | 2 co-filers Group filing | Grant | 1,356 | $140.14 | $190k |
| 2026-07-27 | James Donna Director | Grant | 1,356 | $140.14 | $190k |
| 2026-07-27 | Winters Kathleen A Director | Grant | 1,356 | $140.14 | $190k |
| 2026-07-27 | Winter Matthew E Director | Grant | 1,356 | $140.14 | $190k |
| 2026-07-27 | Ruesterholz Virginia P Director | Grant | 1,356 | $140.14 | $190k |
| 2026-07-27 | Roseborough Teresa Wynn Director | Grant | 1,356 | $140.14 | $190k |
| 2026-07-27 | 2 co-filers Group filing | Grant | 821 | $140.14 | $115k |
| 2026-07-27 | 2 co-filers Group filing | Grant | 1,177 | $140.14 | $165k |
| 2026-05-27 | 3 co-filers President | Option exercise | 8,895 | $49.01 | $436k |
| 2026-05-27 | 3 co-filers President | 10b5-1 plan sale | 8,895 | $135.13 | $1.2m |
| 2026-05-27 | 3 co-filers President | Option exercise | 8,895 | $0.00 | — |
| 2026-05-04 | Pannala Shekar EVP & Chief Information Ofc. | Tax withholding | 7,074 | $135.81 | $961k |
| 2026-04-06 | Niderno Allison G SVP & Controller | Tax withholding | 3 | $136.19 | $409 |
| 2026-04-06 | Hunt Donald Christian EVP & General Counsel | Tax withholding | 6 | $136.19 | $817 |
| 2026-04-06 | Chhabra Prateek EVP & Chief Risk Officer | Tax withholding | 6 | $136.19 | $817 |
| 2026-03-10 | 6 co-filers Executive Vice President | Option exercise | 30,193 | $69.41 | $2.1m |
| 2026-03-10 | 6 co-filers Executive Vice President | Option exercise | 10,500 | $78.28 | $822k |
| 2026-03-10 | 6 co-filers Executive Vice President | Exercise & sell | 10,500 | $138.06 | $1.4m |
| 2026-03-10 | 6 co-filers Executive Vice President | Exercise & sell | 30,193 | $138.04 | $4.2m |
| 2026-03-10 | 6 co-filers Executive Vice President | Option exercise | 30,193 | $0.00 | — |
| 2026-03-10 | 6 co-filers Executive Vice President | Option exercise | 10,500 | $0.00 | — |
| 2026-03-04 | Niderno Allison G SVP & Controller | Open-market sale | 702 | $140.51 | $99k |
| 2026-03-02 | Chhabra Prateek EVP & Chief Risk Officer | Tax withholding | 1,170 | $140.83 | $165k |
| 2026-03-02 | Hunt Donald Christian EVP & General Counsel | Tax withholding | 1,278 | $140.83 | $180k |
| 2026-03-02 | Niderno Allison G SVP & Controller | Tax withholding | 621 | $140.83 | $87k |
| 2026-02-26 | Niderno Allison G SVP & Controller | Open-market sale | 375 | $141.97 | $53k |
| 2026-02-25 | 4 co-filers President | Option exercise | 8,307 | $53.81 | $447k |
| 2026-02-25 | 4 co-filers President | 10b5-1 plan sale | 8,307 | $140.54 | $1.2m |
| 2026-02-25 | 4 co-filers President | Option exercise | 8,307 | $0.00 | — |
| 2026-02-24 | 2 co-filers Executive Vice President | Grant | 8,894 | $140.54 | $1.3m |
| 2026-02-24 | Pannala Shekar EVP & Chief Information Ofc. | Grant | 10,081 | $0.00 | — |
| 2026-02-24 | Stepnowski Amy EVP | Grant | 13,861 | $0.00 | — |
EOD close · as of 2026-10-30
Where each multiple sits in its own 14-yr range · 79th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 20% against ROIC 16% — 4% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 21.7% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| SG&A | 22.6 | 22.1 | 21.8 | 21.4 | 21.6 | 19.9 | 19.8 | 19.7 |
| Income Tax | 1.4 | 2.3 | 1.9 | 2.4 | 2.0 | 2.4 | 2.8 | 3.3 |
| Net Income | 9.5 | 10.1 | 8.5 | 10.6 | 8.1 | 10.2 | 11.7 | 13.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on HIG: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
No positive operating income in the last three years, so there is no return on capital to compare against its cost.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | not reported | not reported | 5.5% |
| FY2017 | not reported | not reported | -18.2% |
| FY2018 | not reported | not reported | 9.5% |
| FY2019 | not reported | not reported | 10.1% |
| FY2020 | not reported | not reported | 8.5% |
| FY2021 | not reported | not reported | 10.6% |
| FY2022 | not reported | not reported | 8.1% |
| FY2023 | not reported | not reported | 10.2% |
| FY2024 | not reported | not reported | 11.7% |
| FY2025 | not reported | not reported | 13.5% |
Leverage and buybacks account for 4 points of the 20% return on equity in FY2025. The business earns 16% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Missing from our data, so excluded from this answer: positive EBIT.
Converts 1.75x of reported profit into free cash flow over 5 years, with accruals negative.
The cash conversion cycle could not be computed — receivables, inventory or cost of revenue is not reported — so the earliest accrual warning is not part of this verdict.
Leverage is not measurable this way for a insurer.
Ladder as of 2025-12-31 (10-K); cash from the 2025-12-31 balance sheet; FCF from FY2025.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Funded by policyholder float, not debt. Reserve adequacy and RBC are the right questions and are not collected yet.
Missing from our data, so excluded from this answer: capital adequacy metrics for this archetype.
At $132.06, free cash flow must compound -5.7%/yr for 10 years. It has done 9.25%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 11.0% | −5.7% |
| FY2021 | 5.4% | −5.7% |
| FY2022 | −3.2% | −5.7% |
| FY2023 | 4.5% | −5.7% |
| FY2024 | 43.9% | −5.7% |
| FY2025 | −0.2% | −5.7% |
The cost of capital could not be computed for this company, so the requirement is solved at the published 10% default — a different rate would move it materially.
| Step | Amount | Running total |
|---|---|---|
| Net income | $3.84B | $3.84B |
| Share-based comp | $141M | $3.98B |
| Other non-cash & working capital | $1.95B | $5.92B |
| Operating cash flow | $5.92B | $5.92B |
| Capex | −$169M | $5.75B |
| Free cash flow | $5.75B | $5.75B |
| FCF after SBC | $5.61B | $5.61B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | -1.1% | not reported | not reported |
| FY2021 | 9.1% | not reported | not reported |
| FY2022 | -0.1% | not reported | not reported |
| FY2023 | 9.7% | not reported | not reported |
| FY2024 | 8.2% | not reported | not reported |
| FY2025 | 6.9% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -2.0 percent |
| FY2020 | -2.9 percent |
| FY2021 | -2.3 percent |
| FY2022 | -3.0 percent |
| FY2023 | -2.2 percent |
| FY2024 | -3.5 percent |
| FY2025 | -2.4 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.