New York State Teachers Retirement System Reduces Position in The Hartford Insurance Group, Inc. $HIG

New York State Teachers Retirement System lessened its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 280,801 shares of the insurance provider’s stock after selling 8,108 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of The Hartford Insurance Group worth $37,456,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Princeton Global Asset Management LLC bought a new position in The Hartford Insurance Group in the 3rd quarter worth approximately $27,000. Private Wealth Management Group LLC raised its holdings in The Hartford Insurance Group by 151.1% during the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 133 shares during the period. Vermillion & White Wealth Management Group LLC lifted its position in shares of The Hartford Insurance Group by 72.8% during the second 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 in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of The Hartford Insurance Group in the second quarter worth $35,000. Finally, Signature Resources Capital Management LLC bought a new position in shares of The Hartford Insurance Group in the second quarter worth $38,000. Institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Monday, December 29th. Evercore ISI lifted their target price on The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a report on Wednesday, January 7th. Wells Fargo & Company lowered their price target on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Morgan Stanley raised their price objective on shares of The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Finally, 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 report on Monday, December 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.07.

The Hartford Insurance Group Stock Down 1.2%

Shares of NYSE HIG opened at $136.20 on Monday. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $140.50. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $37.95 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.23 and a beta of 0.61. The business has a 50-day moving average of $134.88 and a 200-day moving average of $130.43.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the firm posted $2.53 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 1st were given a dividend of $0.60 per share. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, December 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is 19.61%.

Insider Buying and Selling at The Hartford Insurance Group

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the completion of the sale, the executive vice president owned 18,400 shares of the company’s stock, valued at $2,252,344. The trade was a 29.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares in the company, valued at $10,595,056.92. This trade represents a 31.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is currently owned by insiders.

The Hartford Insurance Group Company 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.