California State Teachers Retirement System Lowers Stock Position in The Hartford Insurance Group, Inc. $HIG

California State Teachers Retirement System cut its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 377,947 shares of the insurance provider’s stock after selling 11,871 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of The Hartford Insurance Group worth $51,110,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new position in The Hartford Insurance Group in the 1st quarter valued at about $4,131,000. Abacus Wealth Partners LLC acquired a new stake in shares of The Hartford Insurance Group during the 4th quarter worth approximately $1,971,000. SEB Asset Management AB purchased a new stake in shares of The Hartford Insurance Group during the 1st quarter valued at approximately $69,310,000. Strs Ohio raised its position in shares of The Hartford Insurance Group by 4.7% during the 1st quarter. Strs Ohio now owns 199,619 shares of the insurance provider’s stock valued at $26,994,000 after buying an additional 8,890 shares during the period. Finally, Arbejdsmarkedets Tillaegspension lifted its holdings in The Hartford Insurance Group by 4.6% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider’s stock valued at $25,303,000 after acquiring an additional 8,250 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HIG shares. Wells Fargo & Company decreased their price target 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. Piper Sandler reaffirmed a “neutral” rating and set a $146.00 target price (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Mizuho boosted their price target on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Finally, Cantor Fitzgerald upped their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $149.06.

The Hartford Insurance Group Price Performance

HIG opened at $142.95 on Friday. The stock’s 50-day moving average price is $134.40 and its 200 day moving average price is $135.67. The Hartford Insurance Group, Inc. has a 12-month low of $120.33 and a 12-month high of $146.07. The firm has a market cap 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 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 (NYSE:HIG) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.16 by $0.26. The company had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The Hartford Insurance Group’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.41 EPS. As a group, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 12.77 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors 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 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s payout ratio is 15.51%.

Insider Buying and Selling at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This represents a 18.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.