14,200 Shares in The Hartford Insurance Group, Inc. $HIG Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,200 shares of the insurance provider’s stock, valued at approximately $1,920,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HIG. Ritholtz Wealth Management increased its stake in shares of The Hartford Insurance Group by 5.9% during the first quarter. Ritholtz Wealth Management now owns 77,305 shares of the insurance provider’s stock worth $10,454,000 after purchasing an additional 4,300 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in The Hartford Insurance Group by 6.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,166 shares of the insurance provider’s stock valued at $563,000 after buying an additional 236 shares in the last quarter. OP Asset Management Ltd purchased a new position in The Hartford Insurance Group in the 1st quarter valued at about $4,293,000. Banque Cantonale Vaudoise boosted its holdings in The Hartford Insurance Group by 16.2% in the 1st quarter. Banque Cantonale Vaudoise now owns 19,016 shares of the insurance provider’s stock worth $2,572,000 after buying an additional 2,658 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in The Hartford Insurance Group by 154.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 280,884 shares of the insurance provider’s stock worth $37,984,000 after buying an additional 170,452 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on HIG. Barclays cut their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Wells Fargo & Company dropped their price target on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Bank of America raised their price objective on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Finally, Piper Sandler lowered their target price on shares of The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a research note on Thursday, June 11th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.31.

Insider Transactions at The Hartford Insurance Group

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the sale, the president owned 38,208 shares in the company, valued at $5,163,047.04. The trade was 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 available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by company insiders.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $132.47 on Wednesday. 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 firm has a market capitalization of $36.31 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 2.45 and a beta of 0.47. The company’s 50-day moving average is $132.63 and its two-hundred day moving average is $135.43. 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 announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 EPS. Analysts forecast that The Hartford Insurance Group, Inc. will post 12.9 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 16.87%.

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.