Strs Ohio Purchases 8,890 Shares of The Hartford Insurance Group, Inc. $HIG

Strs Ohio lifted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.7% in the first quarter, HoldingsChannel.com reports. The firm owned 199,619 shares of the insurance provider’s stock after purchasing an additional 8,890 shares during the period. Strs Ohio’s holdings in The Hartford Insurance Group were worth $26,994,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Keybank National Association OH increased its holdings in The Hartford Insurance Group by 6.3% during the 1st quarter. Keybank National Association OH now owns 12,692 shares of the insurance provider’s stock valued at $1,716,000 after purchasing an additional 747 shares during the period. Root Financial Partners LLC grew its position in shares of The Hartford Insurance Group by 10.3% in the 1st quarter. Root Financial Partners LLC now owns 1,606 shares of the insurance provider’s stock worth $217,000 after buying an additional 150 shares during the last quarter. Essex Financial Services Inc. bought a new stake in shares of The Hartford Insurance Group in the 1st quarter worth approximately $303,000. TKG Advisors LLC increased its stake in shares of The Hartford Insurance Group by 0.7% during the first quarter. TKG Advisors LLC now owns 44,119 shares of the insurance provider’s stock valued at $5,966,000 after buying an additional 304 shares during the period. Finally, Financial Life Planners bought a new position in shares of The Hartford Insurance Group during the first quarter valued at approximately $67,000. 93.42% of the stock is owned by institutional investors.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group 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 completion of the transaction, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Stock Down 0.2%

NYSE:HIG opened at $137.52 on Friday. The firm’s 50-day moving average price is $132.49 and its 200-day moving average price is $135.45. The company has a market capitalization of $37.70 billion, a PE ratio of 9.66, a P/E/G ratio of 2.53 and a beta of 0.47. 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 1-year low of $119.61 and a 1-year high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly 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 22.52% and a net margin of 14.10%.The business had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the previous year, the business earned $2.20 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts predict that The Hartford Insurance Group, Inc. will post 12.9 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.87%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HIG shares. Weiss Ratings cut shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Piper Sandler decreased their price objective on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating for the company in a report on Thursday, June 11th. Keefe, Bruyette & Woods dropped their target price on shares of The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating for the company in a research report on Thursday, June 4th. Mizuho cut their target price on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Finally, Wells Fargo & Company reduced their price target on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.31.

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.