California State Teachers Retirement System Increases Holdings in The Hartford Insurance Group, Inc. $HIG

California State Teachers Retirement System raised its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 8.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 409,359 shares of the insurance provider's stock after acquiring an additional 31,412 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of The Hartford Insurance Group worth $54,248,255 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. First Pacific Financial bought a new position in The Hartford Insurance Group during the 1st quarter worth about $26,000. MidFirst Bank bought a new position in shares of The Hartford Insurance Group in the second quarter worth $26,000. Navigoe LLC acquired a new stake in The Hartford Insurance Group during the 2nd quarter worth about $27,000. Phillip James Consulting Co. bought a new stake in The Hartford Insurance Group during the first quarter valued at about $29,000. Finally, Clearstead Trust LLC bought a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at approximately $29,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Price Performance

HIG traded down $1.53 during midday trading on Tuesday, reaching $136.06. 479,067 shares of the company's stock were exchanged, compared to its average volume of 1,586,922. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a one year low of $120.33 and a one year high of $146.07. The firm has a market capitalization of $36.85 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth ratio of 2.39 and a beta of 0.45. The business has a 50-day simple moving average of $139.32 and a two-hundred day simple moving average of $136.25.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.16 by $0.26. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the company earned $3.41 earnings per share. The company's quarterly revenue was up 8.1% on a year-over-year basis. As a group, research analysts predict that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group's dividend payout ratio is presently 15.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald boosted their price objective on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Barclays cut their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating on the stock in a report on Friday, June 12th. Mizuho increased their price objective on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. Wells Fargo & Company dropped their target price on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating on the stock in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded The Hartford Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $149.67.

About The Hartford Insurance Group

The Hartford Insurance Group, operating as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits and related services primarily to businesses, individuals and organizations in the United States.

The company's business operations include commercial insurance for small and midsize businesses, large organizations and specialty industries. Its offerings include workers' compensation, commercial auto, general liability, property, professional liability and other coverage.

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