Teacher Retirement System of Texas Reduces Stock Position in The Hartford Insurance Group, Inc. $HIG

Teacher Retirement System of Texas trimmed its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 5.1% in the 4th quarter, Holdings Channel reports. The firm owned 330,968 shares of the insurance provider’s stock after selling 17,710 shares during the period. Teacher Retirement System of Texas’ holdings in The Hartford Insurance Group were worth $45,607,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HIG. JPL Wealth Management LLC bought a new stake in The Hartford Insurance Group in the 3rd quarter worth approximately $26,000. Cornerstone Planning Group LLC boosted its stake in shares of The Hartford Insurance Group by 707.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after buying an additional 184 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter worth $29,000. United Financial Planning Group LLC bought a new stake in shares of The Hartford Insurance Group in the third quarter worth $29,000. Finally, Barnes Dennig Private Wealth Management LLC increased its position in The Hartford Insurance Group by 144.8% during 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 during the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Stock Up 1.2%

NYSE HIG opened at $139.78 on Friday. The Hartford Insurance Group, Inc. has a 52 week low of $116.66 and a 52 week high of $144.50. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $38.56 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The stock’s 50-day moving average price is $137.79 and its 200-day moving average price is $134.73.

The Hartford Insurance Group (NYSE:HIG) last released its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The firm had revenue of $14.45 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the prior year, the company posted $2.20 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that The Hartford Insurance Group, Inc. will post 13.39 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio (DPR) is presently 17.99%.

Insider Buying and Selling at The Hartford Insurance Group

In related news, EVP Lori A. Rodden sold 40,693 shares of The Hartford Insurance Group stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Swift sold 100,970 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 194,817 shares of the company’s stock, valued at $27,426,337.26. This represents a 34.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 349,282 shares of company stock worth $48,184,324 over the last 90 days. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Evercore raised their target price on The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a research report on Wednesday, January 7th. Morgan Stanley increased their price objective on shares of The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Barclays dropped their price objective on shares of The Hartford Insurance Group from $162.00 to $159.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Wells Fargo & Company boosted their target price on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Finally, Cantor Fitzgerald decreased their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $149.56.

The Hartford Insurance Group Company 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.