Oregon Public Employees Retirement Fund Grows Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Oregon Public Employees Retirement Fund grew its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 30.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,092 shares of the insurance provider’s stock after purchasing an additional 7,540 shares during the period. Oregon Public Employees Retirement Fund’s holdings in The Hartford Insurance Group were worth $4,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HIG. Princeton Global Asset Management LLC bought a new stake in The Hartford Insurance Group in the 3rd quarter worth approximately $27,000. Private Wealth Management Group LLC grew its position in The Hartford Insurance Group by 151.1% during the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 133 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its stake 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 worth $30,000 after acquiring an additional 99 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of The Hartford Insurance Group during the second quarter worth approximately $35,000. Finally, Signature Resources Capital Management LLC bought a new stake in shares of The Hartford Insurance Group in the 2nd quarter worth approximately $38,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other The Hartford Insurance Group news, EVP Lori A. Rodden sold 7,841 shares of The Hartford Insurance Group stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total transaction of $959,816.81. Following the sale, the executive vice president directly owned 18,400 shares of the company’s stock, valued at approximately $2,252,344. The trade was a 29.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Beth Ann Costello sold 35,339 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer owned 77,574 shares in the company, valued at $10,595,056.92. This trade represents a 31.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler increased their target price on shares of The Hartford Insurance Group from $152.00 to $161.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Evercore ISI upped their price target 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. Wells Fargo & Company decreased their price objective on The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Royal Bank Of Canada assumed coverage on The Hartford Insurance Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 target price for the company. Finally, Keefe, Bruyette & Woods increased their target price on The Hartford Insurance Group from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $147.07.

The Hartford Insurance Group Price Performance

HIG stock opened at $136.20 on Friday. The stock has a market capitalization of $37.95 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.23 and a beta of 0.61. The firm’s 50-day moving average price is $134.88 and its two-hundred day moving average price is $130.39. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $140.50.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Monday, October 27th. The insurance provider reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period last year, the firm earned $2.53 earnings per share. The Hartford Insurance Group’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 1st were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.8%. This is a boost from The Hartford Insurance Group’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 19.61%.

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.