New York State Common Retirement Fund Boosts Holdings in The Hartford Insurance Group, Inc. $HIG

New York State Common Retirement Fund grew its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 12.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 209,238 shares of the insurance provider’s stock after acquiring an additional 22,500 shares during the quarter. New York State Common Retirement Fund owned 0.07% of The Hartford Insurance Group worth $26,546,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in HIG. Atlas Capital Advisors Inc. lifted its stake in shares of The Hartford Insurance Group by 95.1% in the 1st quarter. Atlas Capital Advisors Inc. now owns 6,443 shares of the insurance provider’s stock valued at $797,000 after acquiring an additional 3,140 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in The Hartford Insurance Group by 61.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 125,825 shares of the insurance provider’s stock worth $15,727,000 after purchasing an additional 47,919 shares during the period. Ground Swell Capital LLC bought a new stake in The Hartford Insurance Group in the second quarter valued at approximately $324,000. Acadian Asset Management LLC boosted its stake in shares of The Hartford Insurance Group by 94.5% during the second quarter. Acadian Asset Management LLC now owns 300,409 shares of the insurance provider’s stock valued at $38,107,000 after purchasing an additional 145,970 shares during the period. Finally, Capital Fund Management S.A. grew its holdings in shares of The Hartford Insurance Group by 94.9% in the second quarter. Capital Fund Management S.A. now owns 140,342 shares of the insurance provider’s stock worth $17,805,000 after purchasing an additional 68,351 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Weiss Ratings reiterated a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Tuesday, November 25th. Piper Sandler increased their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Wall Street Zen downgraded The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Keefe, Bruyette & Woods upped their price target on The Hartford Insurance Group from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Finally, Citigroup initiated coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.29.

The Hartford Insurance Group Stock Down 1.2%

HIG opened at $135.36 on Tuesday. The stock has a market capitalization of $37.72 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.19 and a beta of 0.69. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $138.64. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average price of $130.40 and a 200-day moving average price of $128.70.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.76. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.53 EPS. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s dividend payout ratio is presently 19.61%.

Insiders Place Their Bets

In other news, EVP Lori A. Rodden sold 7,841 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the transaction, the executive vice president owned 18,400 shares in the company, valued at approximately $2,252,344. This trade represents a 29.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the company’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The SEC filing for this sale provides additional information. 1.50% of the stock is owned by corporate insiders.

The Hartford Insurance Group Company Profile

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.