Public Employees Retirement System of Ohio Has $18.48 Million Stake in The Hartford Insurance Group, Inc. $HIG

Key Points

• The Public Employees Retirement System of Ohio decreased its stake in The Hartford Insurance Group by 7.1%, owning approximately $18.48 million worth of the company's stock after selling over 11,000 shares.
• In the first quarter, several hedge funds significantly increased their holdings in The Hartford Insurance Group, with GAMMA Investing LLC raising its stake by 14,049.5%.
• The Hartford reported earnings of $3.41 per share for the last quarter, beating analysts’ expectations, and also declared a quarterly dividend of $0.52 per share.

Public Employees Retirement System of Ohio reduced its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,659 shares of the insurance provider's stock after selling 11,083 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.05% of The Hartford Insurance Group worth $18,480,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in The Hartford Insurance Group by 14,049.5% in the first quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider's stock worth $1,761,930,000 after purchasing an additional 1,413,945 shares during the period. Woodline Partners LP increased its position in shares of The Hartford Insurance Group by 28,218.5% in the 1st quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider's stock valued at $93,763,000 after buying an additional 755,128 shares in the last quarter. Nuveen LLC acquired a new stake in The Hartford Insurance Group during the 1st quarter worth $87,516,000. Bahl & Gaynor Inc. lifted its holdings in 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 acquiring an additional 684,390 shares in the last quarter. Finally, Amundi grew its stake in The Hartford Insurance Group by 27.4% in the first quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock valued at $239,905,000 after acquiring an additional 417,951 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the sale, the chief financial officer directly owned 77,574 shares of the company's stock, valued at approximately $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of research analyst reports. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Keefe, Bruyette & Woods raised their target price on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Morgan Stanley upped their price target on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Wells Fargo & Company raised their price objective on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, Barclays cut their price objective on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research report on Monday, July 7th. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $138.00.

The Hartford Insurance Group Stock Down 0.2%

Shares of HIG stock opened at $131.63 on Friday. The firm's fifty day moving average price is $129.43 and its two-hundred day moving average price is $125.31. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $135.17. The firm has a market capitalization of $37.01 billion, a P/E ratio of 11.93, a PEG ratio of 1.28 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.58. The company had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The Hartford Insurance Group's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 EPS. On average, equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The Hartford Insurance Group's payout ratio is 18.86%.

About The Hartford Insurance Group

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.

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