Strs Ohio Purchases 8,890 Shares of The Hartford Insurance Group, Inc. $HIG

Key Points

• Strs Ohio increased its stake in The Hartford Insurance Group by 4.7% in the first quarter, buying 8,890 additional shares and bringing its total holding to 199,619 shares valued at about $27 million.
• Institutional ownership remains very high at 93.42%, with several large investors, including Northwestern Mutual, State Street, Geode Capital, Invesco, and Norges Bank, holding significant positions.
• The Hartford’s latest results were mixed: quarterly EPS of $3.09 missed estimates, while revenue rose 6.1% year over year; the company also paid a $0.60 quarterly dividend, and analysts currently rate the stock as a Moderate Buy with an average target price of $147.31.

Strs Ohio boosted its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,619 shares of the insurance provider's stock after acquiring an additional 8,890 shares during the period. Strs Ohio owned 0.07% of The Hartford Insurance Group worth $26,994,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its position in shares of The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider's stock valued at $10,178,152,000 after purchasing an additional 73,835,976 shares in the last quarter. State Street Corp raised its position in shares of The Hartford Insurance Group by 0.4% in the third quarter. State Street Corp now owns 16,031,840 shares of the insurance provider's stock worth $2,146,749,000 after buying an additional 55,983 shares in the last quarter. Geode Capital Management LLC boosted its stake in The Hartford Insurance Group by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider's stock valued at $1,091,440,000 after buying an additional 34,274 shares during the period. Invesco Ltd. boosted its stake in The Hartford Insurance Group by 10.3% during the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider's stock valued at $711,141,000 after buying an additional 496,821 shares during the period. Finally, Norges Bank purchased a new position in The Hartford Insurance Group during the fourth quarter worth about $611,724,000. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Price Performance

HIG stock opened at $137.52 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a 52 week low of $119.61 and a 52 week high of $144.50. The firm's fifty day moving average is $132.49 and its 200 day moving average is $135.45. The firm has a market cap of $37.70 billion, a P/E ratio of 9.66, a P/E/G ratio of 2.53 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. The business's revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts predict that The Hartford Insurance Group, Inc. will post 12.9 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st were issued a $0.60 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group's payout ratio is currently 16.87%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction dated 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 completion of the sale, the president owned 38,208 shares of the company's stock, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on HIG shares. Barclays decreased their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, June 12th. Piper Sandler cut their price objective on The Hartford Insurance Group from $154.00 to $148.00 and set an "overweight" rating for the company in a report on Thursday, June 11th. Weiss Ratings cut shares of The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday, May 27th. Bank of America raised their target price on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, April 14th. Finally, UBS Group dropped their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, April 27th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, The Hartford Insurance Group has a consensus rating of "Moderate Buy" and an average target price of $147.31.

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.

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