State of New Jersey Common Pension Fund D Reduces Stock Holdings in The Hartford Insurance Group, Inc. $HIG

State of New Jersey Common Pension Fund D reduced its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 84,183 shares of the insurance provider’s stock after selling 3,999 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in The Hartford Insurance Group were worth $11,600,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at about $26,000. Cornerstone Planning Group LLC grew its stake in The Hartford Insurance Group by 707.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 184 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in The Hartford Insurance Group during the 3rd quarter valued at approximately $29,000. United Financial Planning Group LLC acquired a new stake in The Hartford Insurance Group during the 3rd quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC grew its stake in The Hartford Insurance Group by 144.8% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 152 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Trading Down 0.6%

NYSE:HIG opened at $135.99 on Friday. The Hartford Insurance Group, Inc. has a 12-month low of $119.61 and a 12-month high of $144.50. The firm has a market capitalization of $37.28 billion, a P/E ratio of 9.56, a P/E/G ratio of 2.44 and a beta of 0.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The business has a 50 day simple moving average of $137.31 and a 200 day simple moving average of $134.90.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company had revenue of $14.45 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts predict that The Hartford Insurance Group, Inc. will post 13.26 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Monday, March 2nd were given a dividend of $0.60 per share. The ex-dividend date was Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.8%. The Hartford Insurance Group’s payout ratio is currently 16.87%.

Insider Buying and Selling

In other The Hartford Insurance Group news, CEO Christopher Swift sold 201,938 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the completion of the transaction, the chief executive officer owned 194,817 shares in the company, valued at approximately $26,574,986.97. The trade was a 50.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lori A. Rodden sold 40,693 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total value of $5,617,668.65. Following the transaction, the executive vice president owned 25,392 shares of the company’s stock, valued at $3,505,365.60. This trade represents a 61.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 349,282 shares of company stock valued at $48,184,324 in the last 90 days. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of recent analyst reports. Weiss Ratings upgraded The Hartford Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, February 13th. Barclays lowered their price objective on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Wells Fargo & Company raised their price objective on The Hartford Insurance Group from $156.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Roth Mkm raised their price objective on The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $149.00 price objective (down from $163.00) on shares of The Hartford Insurance Group in a research note on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, The Hartford Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $149.31.

The Hartford Insurance Group Company Profile

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.