The Hartford Insurance Group, Inc. $HIG Stock Position Increased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 348,678 shares of the insurance provider’s stock after purchasing an additional 5,380 shares during the period. Teacher Retirement System of Texas’ holdings in The Hartford Insurance Group were worth $46,510,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. New York State Common Retirement Fund increased its position in The Hartford Insurance Group by 12.0% in the 2nd quarter. New York State Common Retirement Fund now owns 209,238 shares of the insurance provider’s stock valued at $26,546,000 after acquiring an additional 22,500 shares during the period. Nordea Investment Management AB grew its stake in shares of The Hartford Insurance Group by 5.3% in the third quarter. Nordea Investment Management AB now owns 4,307,617 shares of the insurance provider’s stock worth $570,328,000 after purchasing an additional 215,941 shares in the last quarter. Capital Fund Management S.A. raised its stake in shares of The Hartford Insurance Group by 94.9% during the second quarter. Capital Fund Management S.A. now owns 140,342 shares of the insurance provider’s stock valued at $17,805,000 after purchasing an additional 68,351 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in The Hartford Insurance Group in the second quarter worth about $324,000. Finally, Acadian Asset Management LLC grew its position in The Hartford Insurance Group by 94.5% in the 2nd quarter. Acadian Asset Management LLC now owns 300,409 shares of the insurance provider’s stock valued at $38,107,000 after buying an additional 145,970 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on HIG shares. Piper Sandler increased their price objective on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. UBS Group increased their price target on The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Royal Bank Of Canada started coverage on The Hartford Insurance Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price objective on the stock. Wall Street Zen lowered The Hartford Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, JPMorgan Chase & Co. lifted their target price on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.47.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $129.89 on Friday. The company has a 50-day moving average of $135.10 and a two-hundred day moving average of $130.71. The stock has a market cap of $36.19 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 1.15 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Insurance Group, Inc. has a one year low of $105.98 and a one 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, beating analysts’ consensus estimates of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the previous year, the business earned $2.53 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, equities research 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. Stockholders of record on Monday, December 1st were issued a $0.60 dividend. The ex-dividend date was Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is currently 19.61%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 value of $4,826,600.62. Following the completion of the sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. This represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.50% of the company’s stock.

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.