Strs Ohio Makes New $8.88 Million Investment in The Hartford Insurance Group, Inc. $HIG

Key Points

• Strs Ohio made a new investment of approximately $8.88 million in The Hartford Insurance Group, purchasing 71,761 shares in the first quarter.
• Recent analyst activity has been bullish, with firms such as UBS Group raising their target price to $150.00 and a consensus rating of "Moderate Buy" among analysts.
• The Hartford Insurance Group is set to pay a quarterly dividend of $0.52 on October 2nd, demonstrating a solid annualized yield of 1.6%.

Strs Ohio purchased a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 71,761 shares of the insurance provider's stock, valued at approximately $8,879,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its holdings in The Hartford Insurance Group by 167.8% in the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock worth $39,000 after acquiring an additional 198 shares during the period. Sharp Financial Services LLC purchased a new position in shares of The Hartford Insurance Group during the 1st quarter valued at approximately $260,000. Oppenheimer & Co. Inc. boosted its stake in shares of The Hartford Insurance Group by 86.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock valued at $533,000 after buying an additional 2,000 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of The Hartford Insurance Group during the 1st quarter valued at approximately $233,000. Finally, Aurora Investment Counsel purchased a new position in shares of The Hartford Insurance Group during the 1st quarter valued at approximately $2,434,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

Analyst Ratings Changes

HIG has been the subject of several research analyst reports. UBS Group increased their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Barclays reduced their target price on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Citigroup started coverage on The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $138.00 target price for the company. Keefe, Bruyette & Woods upped their price target on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Finally, Raymond James Financial reissued an "outperform" rating and set a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and an average target price of $138.00.

The Hartford Insurance Group Price Performance

Shares of NYSE HIG opened at $132.52 on Friday. The Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $135.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The business's fifty day moving average price is $127.74 and its two-hundred day moving average price is $124.53. The firm has a market capitalization of $37.26 billion, a PE ratio of 12.01, a P/E/G ratio of 1.29 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The firm had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period last year, the company earned $2.50 earnings per share. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

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

Insider Buying and Selling at The Hartford Insurance Group

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

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.

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