New York State Teachers Retirement System Sells 8,108 Shares of The Hartford Insurance Group, Inc. $HIG

New York State Teachers Retirement System decreased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 280,801 shares of the insurance provider’s stock after selling 8,108 shares during the period. New York State Teachers Retirement System’s holdings in The Hartford Insurance Group were worth $37,456,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in The Hartford Insurance Group in the second quarter worth $506,329,000. Franklin Resources Inc. lifted its stake in shares of The Hartford Insurance Group by 51.5% in the 2nd quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider’s stock valued at $414,632,000 after acquiring an additional 1,111,659 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in The Hartford Insurance Group by 217.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 832,291 shares of the insurance provider’s stock valued at $105,593,000 after acquiring an additional 570,521 shares during the period. Robeco Institutional Asset Management B.V. grew its position in The Hartford Insurance Group by 38.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,493,077 shares of the insurance provider’s stock worth $189,427,000 after acquiring an additional 414,216 shares during the last quarter. Finally, Man Group plc increased its stake in The Hartford Insurance Group by 36.6% in the 2nd quarter. Man Group plc now owns 1,064,849 shares of the insurance provider’s stock worth $135,097,000 after purchasing an additional 285,596 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Trading Down 1.2%

Shares of HIG opened at $136.20 on Monday. The firm’s 50-day moving average price is $134.88 and its 200-day moving average price is $130.43. The firm has a market capitalization of $37.95 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.23 and a beta of 0.61. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $140.50.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The Hartford Insurance Group’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.53 earnings per share. Sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on HIG shares. Royal Bank Of Canada started coverage on The Hartford Insurance Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 price objective for the company. Wall Street Zen cut shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. JPMorgan Chase & Co. raised their price target on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Argus upped their price objective on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Finally, Evercore ISI increased their target price on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.07.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 7,841 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total transaction of $959,816.81. Following the sale, the executive vice president owned 18,400 shares in the company, valued at approximately $2,252,344. The trade was a 29.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the completion of the transaction, the chief financial officer owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.60% of the company’s stock.

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.