The Hartford Insurance Group, Inc. $HIG Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System raised its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 14,253.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,248,255 shares of the insurance provider's stock after purchasing an additional 53,870,308 shares during the period. California State Teachers Retirement System owned 20.03% of The Hartford Insurance Group worth $7,188,979,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of The Hartford Insurance Group during the 1st quarter valued at $4,131,000. Strs Ohio lifted its stake in shares of The Hartford Insurance Group by 4.7% during the first quarter. Strs Ohio now owns 199,619 shares of the insurance provider's stock worth $26,994,000 after purchasing an additional 8,890 shares in the last quarter. SEB Asset Management AB acquired a new position in shares of The Hartford Insurance Group during the first quarter worth about $69,310,000. Abacus Wealth Partners LLC purchased a new stake in shares of The Hartford Insurance Group in the fourth quarter worth about $1,971,000. Finally, Arbejdsmarkedets Tillaegspension boosted its position in shares of The Hartford Insurance Group by 4.6% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 187,110 shares of the insurance provider's stock worth $25,303,000 after buying an additional 8,250 shares during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $135.71 on Wednesday. The firm has a market cap of $36.76 billion, a PE ratio of 8.77, a price-to-earnings-growth ratio of 2.43 and a beta of 0.45. The firm's 50-day simple moving average is $139.31 and its 200-day simple moving average is $136.36. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a 1 year low of $120.33 and a 1 year high of $146.07.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping the consensus estimate of $3.16 by $0.26. The business had revenue of $7.26 billion for the quarter, compared to analysts' expectations of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. During the same quarter last year, the company posted $3.41 earnings per share. The company's quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank Of Canada raised their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "sector perform" rating in a report on Monday, July 27th. JPMorgan Chase & Co. upped their price target on The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Zacks Research upgraded The Hartford Insurance Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a "market perform" rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a "buy (b+)" rating on shares of The Hartford Insurance Group in a research note on Monday, August 24th. Seven research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $149.67.

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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