The Hartford Insurance Group, Inc. $HIG Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its stake in The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the insurance provider’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in The Hartford Insurance Group were worth $1,903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HIG. Woodline Partners LP raised its holdings in shares of The Hartford Insurance Group by 28,218.5% in the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider’s stock worth $93,763,000 after buying an additional 755,128 shares during the last quarter. Nuveen LLC purchased a new position in shares of The Hartford Insurance Group in the first quarter worth $87,516,000. Bahl & Gaynor Inc. raised its holdings in shares of The Hartford Insurance Group by 47.0% in the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock worth $264,972,000 after buying an additional 684,390 shares during the last quarter. Amundi raised its holdings in shares of The Hartford Insurance Group by 27.4% in the first quarter. Amundi now owns 1,943,498 shares of the insurance provider’s stock worth $239,905,000 after buying an additional 417,951 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of The Hartford Insurance Group by 38.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,493,077 shares of the insurance provider’s stock worth $189,427,000 after buying an additional 414,216 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling at The Hartford Insurance Group

In related news, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction dated 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 sale, the chief financial officer owned 77,574 shares in the company, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on HIG. Evercore ISI raised their price target on shares of The Hartford Insurance Group from $133.00 to $137.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Weiss Ratings reissued a “buy (a-)” rating on shares of The Hartford Insurance Group in a report on Wednesday. Citigroup initiated coverage on shares of The Hartford Insurance Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $138.00 target price for the company. Raymond James Financial reissued an “outperform” rating and set a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Finally, Wall Street Zen raised shares of The Hartford Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.07.

The Hartford Insurance Group Stock Down 1.0%

HIG stock opened at $128.89 on Friday. The firm has a market cap of $36.24 billion, a PE ratio of 11.69, a P/E/G ratio of 1.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The firm’s fifty day moving average is $131.46 and its 200 day moving average is $126.35. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results 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 company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $2.50 earnings per share. On average, research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd were 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 was Tuesday, September 2nd. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 18.86%.

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.