Strs Ohio Boosts Position in The Hartford Insurance Group, Inc. $HIG

Strs Ohio raised its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 13.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 229,717 shares of the insurance provider’s stock after acquiring an additional 26,737 shares during the period. Strs Ohio owned approximately 0.08% of The Hartford Insurance Group worth $30,642,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HIG. Vanguard Group Inc. boosted its holdings in The Hartford Insurance Group by 0.4% in the second quarter. Vanguard Group Inc. now owns 37,160,644 shares of the insurance provider’s stock valued at $4,714,571,000 after purchasing an additional 156,807 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of The Hartford Insurance Group by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 7,467,018 shares of the insurance provider’s stock valued at $943,448,000 after buying an additional 57,539 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of The Hartford Insurance Group by 2.9% in the 2nd quarter. Invesco Ltd. now owns 4,834,472 shares of the insurance provider’s stock valued at $613,349,000 after buying an additional 136,483 shares during the period. Nordea Investment Management AB boosted its stake in shares of The Hartford Insurance Group by 5.3% in the third quarter. Nordea Investment Management AB now owns 4,307,617 shares of the insurance provider’s stock worth $570,328,000 after buying an additional 215,941 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of The Hartford Insurance Group in the second quarter worth about $506,329,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Down 1.1%

HIG stock opened at $128.52 on Friday. The Hartford Insurance Group, Inc. has a 52 week low of $105.98 and a 52 week high of $140.50. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm has a 50-day simple moving average of $134.99 and a 200-day simple moving average of $130.75. The stock has a market capitalization of $35.81 billion, a P/E ratio of 10.50, a P/E/G ratio of 1.15 and a beta of 0.61.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the firm posted $2.53 EPS. The Hartford Insurance Group’s revenue was up 7.1% compared to the same quarter last year. Equities analysts forecast 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 company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, December 1st were given a dividend of $0.60 per share. The ex-dividend date was Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 19.61%.

Analyst Ratings Changes

A number of brokerages have issued reports on HIG. Weiss Ratings reissued a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Monday, December 29th. Mizuho began coverage on shares of The Hartford Insurance Group in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $160.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Cantor Fitzgerald lifted their price objective on shares of The Hartford Insurance Group from $152.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, UBS Group upped their price objective on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.47.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 7,841 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were 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. This represents a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Beth Ann Costello sold 35,339 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction 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. The trade was a 31.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is currently owned by corporate insiders.

The Hartford Insurance Group 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.