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

Teacher Retirement System of Texas cut its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 330,968 shares of the insurance provider’s stock after selling 17,710 shares during the quarter. Teacher Retirement System of Texas owned about 0.12% of The Hartford Insurance Group worth $45,607,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in The Hartford Insurance Group in the first quarter worth about $207,000. NewEdge Advisors LLC grew its holdings in shares of The Hartford Insurance Group by 1.6% during the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock worth $7,122,000 after acquiring an additional 886 shares during the period. Treasurer of the State of North Carolina grew its holdings in shares of The Hartford Insurance Group by 3.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock worth $21,297,000 after acquiring an additional 6,285 shares during the period. HUB Investment Partners LLC raised its position in shares of The Hartford Insurance Group by 9.8% in the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock worth $878,000 after acquiring an additional 619 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of The Hartford Insurance Group by 25.5% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock valued at $24,488,000 after purchasing an additional 39,220 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Hartford Insurance Group

In related news, CEO Christopher Swift sold 100,970 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total transaction of $14,214,556.60. Following the completion of the sale, the chief executive officer owned 194,817 shares of the company’s stock, valued at $27,426,337.26. This trade represents a 34.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lori A. Rodden sold 40,693 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total value of $5,617,668.65. Following the completion of the transaction, the executive vice president directly owned 25,392 shares in the company, valued at $3,505,365.60. This trade represents a 61.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 349,282 shares of company stock valued at $48,184,324 in the last three months. 1.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HIG shares. Barclays dropped their price target on The Hartford Insurance Group from $162.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Roth Mkm increased their price target on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Wells Fargo & Company lifted their price target on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Bank of America upped their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Finally, Evercore lifted their target price on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a report on Wednesday, January 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group has an average rating of “Moderate Buy” and a consensus price target of $149.56.

The Hartford Insurance Group Price Performance

HIG opened at $139.78 on Friday. The firm has a market cap of $38.56 billion, a PE ratio of 10.48, a P/E/G ratio of 1.29 and a beta of 0.53. The stock has a 50-day moving average price of $137.79 and a 200-day moving average price of $134.73. The Hartford Insurance Group, Inc. has a 1 year low of $116.66 and a 1 year high of $144.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate of $3.39 by ($0.30). The firm had revenue of $14.45 billion for the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $2.20 earnings per share. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 13.39 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were issued a dividend of $0.60 per share. The ex-dividend date was Monday, March 2nd. 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 is presently 17.99%.

The Hartford Insurance Group Company 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.