The Hartford Insurance Group, Inc. $HIG Shares Bought by Strs Ohio

Strs Ohio raised its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 13.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 229,717 shares of the insurance provider’s stock after buying an additional 26,737 shares during the period. Strs Ohio’s holdings in The Hartford Insurance Group were worth $30,642,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Princeton Global Asset Management LLC purchased a new stake in shares of The Hartford Insurance Group in the third quarter valued at about $27,000. Private Wealth Management Group LLC raised its stake in The Hartford Insurance Group by 151.1% during the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 133 shares during the period. Vermillion & White Wealth Management Group LLC boosted its holdings in The Hartford Insurance Group by 72.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 99 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at approximately $35,000. Finally, Signature Resources Capital Management LLC acquired a new stake in shares of The Hartford Insurance Group during the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Insurance Group Price Performance

HIG opened at $128.52 on Friday. The stock’s 50-day moving average price is $134.99 and its 200 day moving average price is $130.75. The Hartford Insurance Group, Inc. has a 12-month low of $105.98 and a 12-month high of $140.50. The firm has a market cap of $35.81 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.15 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 (NYSE:HIG) last issued 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 for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.53 earnings per share. As a group, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, December 1st were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The Hartford Insurance Group’s payout ratio is currently 19.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Cantor Fitzgerald upped their price target on The Hartford Insurance Group from $152.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. raised their price objective on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. UBS Group upped their target price on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, Royal Bank Of Canada assumed coverage on shares of The Hartford Insurance Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and a consensus target price of $148.47.

Insider Buying and Selling

In other news, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the sale, the executive vice president directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value 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. This trade represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.50% of the stock is owned by corporate insiders.

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.