🔒The Hartford quietly donates 300K shares to major CT foundation, worth nearly $37M

Since 2022, Hartford-based property and casualty insurer The Hartford has quietly donated more than 1 million shares of its stock to the nonprofit Hartford Foundation for Public Giving, according to a review of financial filings. The most recent contribution occurred on Aug. 1, when The Hartford transferred 300,000 shares to HFPG Inc., an affiliate of the Hartford Foundation for Public Giving. On Aug. 1, The Hartford’s stock price closed at $123, making those 300,000 shares worth approximately $36.9 million. The Hartford is traded on the New York Stock Exchange under the ticker symbol HIG. According to a filing with the U.S. Securities and Exchange Commission, the transfer is part of a “share donation program” meant to advance The Hartford’s philanthropic goals. Over 10 years, the company intends to donate shares of its common stock to HFPG annually, in installments, up to 2.8 million shares, the filing states. The donations are intended to be invested in a donor-advised fund within HFPG. A subsidiary of The Hartford, Hartford Accident and Indemnity Co., received the 2.8 million shares in 1995 as part of a restructuring in connection with The Hartford’s spin-off from ITT Corp., its former parent, according to the document. A donor-advised fund is a charitable-giving vehicle that allows individuals, families or organizations to make charitable contributions to a fund, which is then invested, and the donor can recommend grants to qualified charities. Donations of stock are commonly used by large companies as part of their corporate social responsibility programs, but they also provide tax benefits. Corporations may deduct qualified charitable contributions — including stock donations — of up to 10% of their federal taxable income, according to the IRS. A spokesperson for The Hartford called the donation “a deposit for long-term, routine, philanthropic activities, which are administered by The Hartford Foundation for Public Giving.” The funding has not yet been earmarked and “is part of our ongoing philanthropic efforts,” the spokesperson said. Hartford Foundation declined to comment for this article. Based on the Hartford Business Journal’s review of SEC filings, The Hartford has donated significant sums of its stock to HFPG at least once a year since 2022. The donations include:

• April 30, 2024 — 250,000 shares
• May 2, 2023 — 215,000 shares
• Feb. 23, 2022 — 156,340 shares
• May 3, 2022 — 150,000 shares

The total number of shares the company has donated to HFPG over the last four years is 1,071,340. It’s unclear how much, if any, of the stock has been sold. The Hartford Foundation is the community foundation for 29 cities and towns in Greater Hartford, with a focus on dismantling structural racism and creating equitable social and economic mobility. The Foundation awarded 2,440 grants to nonprofit agencies in 2024 — the second-largest amount in the organization’s history, the group announced earlier this year. According to its 2024 annual report, the Foundation spent $54.78 million on grants last year, along with $10.56 million on operating expenses and $2.32 million on program support and foundation-administered projects. In 2024, the Foundation had $1.2 billion in total investments, according to its audited financial statements for that year. Meantime, the organization generated $67.98 million in revenue, gains and other support in 2024. The organization’s expenses totaled $67.67 million that year. The Hartford’s donation comes after the property and casualty reported strong second-quarter results. Its net income of $990 million in the second quarter of 2025 was an increase of 35% from the previous year. The Hartford’s Chairman and CEO Christopher Swift called the results “outstanding.” On Tuesday morning, The Hartford’s stock price began trading at $126.21.