California Public Employees Retirement System Cuts Stock Position in The Hartford Insurance Group, Inc. $HIG

California Public Employees Retirement System cut its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 17.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 940,444 shares of the insurance provider’s stock after selling 198,293 shares during the quarter. California Public Employees Retirement System owned approximately 0.34% of The Hartford Insurance Group worth $125,446,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Princeton Global Asset Management LLC bought a new position in shares of The Hartford Insurance Group during the 3rd quarter worth approximately $27,000. Cornerstone Planning Group LLC boosted its stake in The Hartford Insurance Group by 707.7% in the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 184 shares in the last quarter. United Financial Planning Group LLC purchased a new position in The Hartford Insurance Group in the third quarter worth $29,000. Vermillion & White Wealth Management Group LLC increased 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 purchasing an additional 99 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of The Hartford Insurance Group during the second quarter worth $35,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Price Performance

NYSE HIG opened at $132.68 on Monday. The company has a market cap of $36.60 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 1.29 and a beta of 0.60. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The stock’s fifty day moving average price is $136.99 and its 200 day moving average price is $133.88. The Hartford Insurance Group, Inc. has a 1 year low of $107.49 and a 1 year high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results 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 company had revenue of $7.31 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 revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.94 EPS. As a group, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be given a $0.60 dividend. The ex-dividend date is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is currently 17.99%.

Insider Activity at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction that occurred on 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 approximately $10,595,056.92. This represents a 31.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the transaction, the executive vice president directly owned 25,392 shares of the company’s stock, valued at $3,505,365.60. This represents a 61.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 384,621 shares of company stock worth $53,010,925 over the last quarter. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HIG shares. Morgan Stanley raised their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Mizuho initiated coverage on The Hartford Insurance Group in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 price target for the company. Royal Bank Of Canada assumed coverage on The Hartford Insurance Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price target for the company. Roth Mkm boosted their price target on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company upped their price objective on shares of The Hartford Insurance Group from $153.00 to $156.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.13.

About The Hartford Insurance Group

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.