State of New Jersey Common Pension Fund D Trims Stock Holdings in The Hartford Insurance Group, Inc. $HIG

State of New Jersey Common Pension Fund D reduced its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,183 shares of the insurance provider’s stock after selling 3,999 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in The Hartford Insurance Group were worth $11,600,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HIG. Cornerstone Planning Group LLC lifted its position in shares of 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. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group in the third quarter valued at $26,000. United Financial Planning Group LLC purchased a new stake in shares of The Hartford Insurance Group in the third quarter valued at $29,000. Sunbelt Securities Inc. purchased a new stake in shares of The Hartford Insurance Group in the third quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its position in shares of The Hartford Insurance Group by 144.8% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 152 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HIG shares. Weiss Ratings upgraded The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, February 13th. UBS Group reduced their price objective on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Citigroup increased their target price on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Mizuho increased their target price on The Hartford Insurance Group from $158.00 to $159.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Bank of America increased their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and an average target price of $149.31.

The Hartford Insurance Group Stock Performance

The Hartford Insurance Group stock opened at $135.99 on Friday. The stock’s 50-day moving average is $137.31 and its 200-day moving average is $134.90. The company has a market cap of $37.28 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 2.44 and a beta of 0.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The firm had revenue of $14.45 billion during the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.20 earnings per share. Equities analysts anticipate that The Hartford Insurance Group, Inc. will post 13.26 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Monday, March 2nd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 16.87%.

Insider Activity

In related news, CEO Christopher Swift sold 100,970 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the sale, the chief executive officer directly owned 194,817 shares in the company, valued at approximately $27,426,337.26. This trade represents a 34.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lori A. Rodden sold 40,693 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the sale, the executive vice president owned 25,392 shares in the company, valued at approximately $3,505,365.60. The trade was a 61.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 349,282 shares of company stock worth $48,184,324. Company insiders own 1.30% of the company’s stock.

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.