Kentucky Retirement Systems Purchases 19,276 Shares of The Hartford Insurance Group, Inc. $HIG

Kentucky Retirement Systems lifted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 109.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 36,912 shares of the insurance provider’s stock after purchasing an additional 19,276 shares during the quarter. Kentucky Retirement Systems’ holdings in The Hartford Insurance Group were worth $4,992,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HIG. Northwestern Mutual Wealth Management Co. grew its position in The Hartford Insurance Group by 286,241.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock valued at $10,178,152,000 after acquiring an additional 73,835,976 shares during the last quarter. State Street Corp boosted its stake in shares of The Hartford Insurance Group by 0.4% in the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock valued at $2,146,749,000 after purchasing an additional 55,983 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of The Hartford Insurance Group by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock valued at $1,091,440,000 after purchasing an additional 34,274 shares in the last quarter. Invesco Ltd. grew its holdings in shares of The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock valued at $711,141,000 after purchasing an additional 496,821 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of The Hartford Insurance Group by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,699,459 shares of the insurance provider’s stock valued at $635,490,000 after purchasing an additional 72,448 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

HIG stock opened at $142.95 on Friday. The stock has a market capitalization of $38.72 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 3.95 and a beta of 0.47. The firm’s 50-day moving average price is $134.40 and its two-hundred day moving average price is $135.67. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a 12-month low of $120.33 and a 12-month high of $146.07.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The company had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The Hartford Insurance Group’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.41 earnings per share. As a group, equities analysts predict that The Hartford Insurance Group, Inc. will post 12.77 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 15.51%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HIG. Wells Fargo & Company reduced their price objective on The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday. Weiss Ratings lowered The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Royal Bank Of Canada increased their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Monday. Zacks Research lowered The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, Barclays decreased their price target on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $149.06.

Insiders Place Their Bets

In other news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

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.