California Public Employees Retirement System Cuts Position in The Hartford Insurance Group, Inc. $HIG

California Public Employees Retirement System cut its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 15.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,138,737 shares of the insurance provider’s stock after selling 201,848 shares during the quarter. California Public Employees Retirement System’s holdings in The Hartford Insurance Group were worth $144,472,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of The Hartford Insurance Group in the 2nd quarter worth approximately $506,329,000. Franklin Resources Inc. boosted its stake in The Hartford Insurance Group by 51.5% in the second 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 in the last quarter. Woodline Partners LP boosted its stake in The Hartford Insurance Group by 28,218.5% in the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock valued at $93,763,000 after acquiring an additional 755,128 shares in the last quarter. Nuveen LLC purchased a new position in The Hartford Insurance Group in the first quarter worth $87,516,000. Finally, Bahl & Gaynor Inc. increased its position in shares of The Hartford Insurance Group by 47.0% during the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock worth $264,972,000 after purchasing an additional 684,390 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 7,841 shares of the stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $122.41, for a total value of $959,816.81. Following the sale, the executive vice president owned 18,400 shares in the company, valued at $2,252,344. This represents a 29.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by insiders.

The Hartford Insurance Group Stock Down 1.8%

Shares of HIG stock opened at $129.46 on Monday. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $138.64. The firm has a market capitalization of $36.07 billion, a PE ratio of 10.58, a P/E/G ratio of 1.21 and a beta of 0.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.32. The stock’s 50-day simple moving average is $130.42 and its 200-day simple moving average is $128.74.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the prior year, the firm earned $2.53 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities 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 disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 1st will be issued a $0.60 dividend. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The Hartford Insurance Group’s payout ratio is currently 19.61%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Royal Bank Of Canada started coverage on The Hartford Insurance Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price objective for the company. Keefe, Bruyette & Woods raised their price target on The Hartford Insurance Group from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Wolfe Research began coverage on The Hartford Insurance Group in a research note on Tuesday, September 16th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. increased their price objective on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of The Hartford Insurance Group in a research note on Monday, December 1st. One equities research analyst has 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.29.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.