California Public Employees Retirement System Sells 201,848 Shares of The Hartford Insurance Group, Inc. $HIG

California Public Employees Retirement System lessened its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 15.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,138,737 shares of the insurance provider’s stock after selling 201,848 shares during the period. California Public Employees Retirement System owned 0.40% of The Hartford Insurance Group worth $144,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in HIG. Private Wealth Management Group LLC boosted its stake in The Hartford Insurance Group by 151.1% during the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after buying an additional 133 shares during the last quarter. Vermillion & White Wealth Management Group LLC increased its stake in The Hartford Insurance Group by 72.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 99 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of The Hartford Insurance Group during the 2nd quarter worth approximately $35,000. Signature Resources Capital Management LLC bought a new position in shares of The Hartford Insurance Group during the 2nd quarter valued at approximately $38,000. Finally, Addison Advisors LLC grew its holdings in shares of The Hartford Insurance Group by 129.3% in the second quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock opened at $129.46 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $138.64. The firm has a market capitalization of $36.07 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 1.21 and a beta of 0.63. The company’s 50-day moving average is $130.42 and its 200 day moving average is $128.74.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.76. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.53 earnings per share. Research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be given a $0.60 dividend. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.40 annualized dividend and a yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Evercore ISI upped their price target on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. UBS Group upped their target price on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Royal Bank Of Canada assumed coverage on The Hartford Insurance Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $143.29.

Insiders Place Their Bets

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the sale, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.