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

California State Teachers Retirement System grew its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 14,253.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 54,248,255 shares of the insurance provider’s stock after purchasing an additional 53,870,308 shares during the quarter. California State Teachers Retirement System owned 0.20% of The Hartford Insurance Group worth $7,188,979,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of HIG. Ashton Thomas Private Wealth LLC bought a new position in The Hartford Insurance Group in the 1st quarter worth approximately $207,000. NewEdge Advisors LLC grew its stake in shares of The Hartford Insurance Group by 1.6% in the second quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock worth $7,122,000 after purchasing an additional 886 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of The Hartford Insurance Group by 3.9% during the second quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock valued at $21,297,000 after purchasing an additional 6,285 shares during the period. HUB Investment Partners LLC increased its holdings in shares of The Hartford Insurance Group by 9.8% during the second quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock valued at $878,000 after purchasing an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of The Hartford Insurance Group by 25.5% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock valued at $24,488,000 after purchasing an additional 39,220 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Stock Down 1.9%

HIG stock opened at $135.71 on Wednesday. The firm has a market cap of $36.76 billion, a PE ratio of 8.77, a P/E/G ratio of 2.43 and a beta of 0.45. The Hartford Insurance Group, Inc. has a 12 month low of $120.33 and a 12 month high of $146.07. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a 50 day simple moving average of $139.31 and a 200 day simple moving average of $136.36.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.26. The firm had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.41 earnings per share. Equities research 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 business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be given a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is 15.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HIG shares. Mizuho increased their target price 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. Royal Bank Of Canada boosted their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. Barclays reduced their price target on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. JPMorgan Chase & Co. raised their price objective on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Finally, Wells Fargo & Company lowered their price objective on shares of The Hartford Insurance Group from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.