The Hartford Insurance Group, Inc. $HIG Holdings Reduced by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in The Hartford Insurance Group, Inc. (NYSE:HIG) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,182 shares of the insurance provider’s stock after selling 4,049 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in The Hartford Insurance Group were worth $11,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in HIG. Cornerstone Planning Group LLC raised 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 acquiring an additional 184 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in shares of The Hartford Insurance Group in the third quarter worth $27,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of The Hartford Insurance Group by 72.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 99 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of The Hartford Insurance Group during the second quarter valued at about $35,000. Finally, Addison Advisors LLC lifted its holdings in The Hartford Insurance Group by 129.3% in the second quarter. Addison Advisors LLC now owns 321 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 181 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Christopher Swift sold 100,970 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $140.78, for a total value of $14,214,556.60. Following the completion of the transaction, the chief executive officer owned 194,817 shares of the company’s stock, valued at approximately $27,426,337.26. This trade represents a 34.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares in the company, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 343,928 shares of company stock worth $47,393,256. Company insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Stock Performance

HIG opened at $141.18 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The firm has a market cap of $39.34 billion, a PE ratio of 10.58, a P/E/G ratio of 1.09 and a beta of 0.61. The business has a fifty day simple moving average of $136.16 and a 200-day simple moving average of $132.61. The Hartford Insurance Group, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last announced its earnings results on Thursday, January 29th. The insurance provider reported $4.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The company had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the firm earned $2.94 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HIG. Evercore increased their target price on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an “in-line” rating in a research report on Wednesday, January 7th. Royal Bank Of Canada began coverage on shares of The Hartford Insurance Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price objective for the company. Piper Sandler raised their price objective on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. JPMorgan Chase & Co. boosted their target price on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Finally, Wells Fargo & Company increased their price target on The Hartford Insurance Group from $153.00 to $156.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $148.13.

The Hartford Insurance Group 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.