State of New Jersey Common Pension Fund D Has $11.41 Million Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• The State of New Jersey Common Pension Fund D has decreased its holdings in The Hartford Insurance Group by 11.6%, now owning 92,231 shares valued at approximately $11.4 million.
• JPMorgan Chase & Co. recently raised its target price for The Hartford from $140 to $142 while maintaining a "neutral" rating, amidst varying recommendations from other analysts.
• The Hartford Insurance Group reported a quarterly EPS of $3.41, exceeding the consensus estimate by $0.58, with a revenue increase of 7.7% year-over-year despite a slight revenue miss.

State of New Jersey Common Pension Fund D decreased its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 11.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,231 shares of the insurance provider's stock after selling 12,144 shares during the period. State of New Jersey Common Pension Fund D's holdings in The Hartford Insurance Group were worth $11,412,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HIG. Park Square Financial Group LLC increased its position in The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after buying an additional 155 shares during the last quarter. Spurstone Advisory Services LLC acquired a new position in The Hartford Insurance Group during the fourth quarter worth approximately $33,000. Center for Financial Planning Inc. acquired a new position in The Hartford Insurance Group during the first quarter worth approximately $33,000. Itau Unibanco Holding S.A. acquired a new position in The Hartford Insurance Group during the fourth quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. increased its position in The Hartford Insurance Group by 123.8% during the first quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock worth $36,000 after buying an additional 161 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

Analysts Set New Price Targets

HIG has been the topic of a number of recent analyst reports. Barclays lowered their price target on 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. Morgan Stanley boosted their price objective on The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Citigroup started coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Finally, Raymond James Financial restated an "outperform" rating and set a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $137.64.

The Hartford Insurance Group Price Performance

HIG traded down $0.8330 during trading on Thursday, hitting $133.1370. 1,054,033 shares of the stock traded hands, compared to its average volume of 1,644,508. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $134.12. The company has a market cap of $37.43 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.28 and a beta of 0.67. 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 has a 50 day moving average price of $125.32 and a 200 day moving average price of $122.15.

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 EPS for the quarter, beating the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the previous year, the business earned $2.50 earnings per share. The company's revenue was up 7.7% on a year-over-year basis. Equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed 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. This represents a $2.08 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. The Hartford Insurance Group's payout ratio is currently 18.86%.

Insider Activity

In other 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 completion of the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.50% of the company's stock.

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.