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

California State Teachers Retirement System lowered its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 377,947 shares of the insurance provider’s stock after selling 11,871 shares during the period. California State Teachers Retirement System’s holdings in The Hartford Insurance Group were worth $51,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in HIG. Haven Private LLC lifted its stake in The Hartford Insurance Group by 1.1% in the fourth quarter. Haven Private LLC now owns 6,751 shares of the insurance provider’s stock worth $930,000 after acquiring an additional 71 shares during the last quarter. GW&K Investment Management LLC increased its position in shares of The Hartford Insurance Group by 40.3% in the 4th quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 77 shares during the last quarter. Kestra Advisory Services LLC increased its position in shares of The Hartford Insurance Group by 0.4% in the 4th quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider’s stock valued at $2,432,000 after purchasing an additional 79 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of The Hartford Insurance Group by 3.8% in the 1st quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider’s stock valued at $305,000 after purchasing an additional 82 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC raised its holdings in shares of The Hartford Insurance Group by 0.7% in the 4th quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider’s stock valued at $1,810,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Ratings Changes

HIG has been the subject of a number of analyst reports. UBS Group lowered their target price on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Mizuho lifted their price target on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Bank of America raised their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Finally, Zacks Research cut The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research note on Monday. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Hold” and an average target price of $149.06.

Insider Transactions at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president owned 38,208 shares in the company, valued at $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

The Hartford Insurance Group Price Performance

Shares of NYSE:HIG opened at $142.95 on Friday. The Hartford Insurance Group, Inc. has a 12 month low of $120.33 and a 12 month high of $146.07. The firm has a market capitalization of $38.72 billion, a P/E ratio of 9.24, a P/E/G ratio of 3.95 and a beta of 0.47. 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 company’s fifty day moving average price is $134.40 and its 200 day moving average price is $135.67.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (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 company had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the prior year, the firm posted $3.41 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts predict that The Hartford Insurance Group, Inc. will post 12.77 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced 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 of this dividend is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The Hartford Insurance Group’s dividend payout ratio is 15.51%.

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.