Illinois Municipal Retirement Fund Has $28.70 Million Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Illinois Municipal Retirement Fund lowered its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 212,208 shares of the insurance provider’s stock after selling 4,682 shares during the period. Illinois Municipal Retirement Fund owned about 0.08% of The Hartford Insurance Group worth $28,697,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of HIG. Y Intercept Hong Kong Ltd acquired a new position in shares of The Hartford Insurance Group during the first quarter worth $4,131,000. Nordea Investment Management AB boosted its holdings in shares of The Hartford Insurance Group by 1.9% during the 4th quarter. Nordea Investment Management AB now owns 4,389,329 shares of the insurance provider’s stock valued at $606,956,000 after acquiring an additional 81,712 shares in the last quarter. Danske Bank A S acquired a new stake in shares of The Hartford Insurance Group during the 3rd quarter valued at $91,398,000. Wealth Enhancement Advisory Services LLC grew its position in The Hartford Insurance Group by 22.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 182,453 shares of the insurance provider’s stock worth $24,971,000 after acquiring an additional 32,846 shares during the last quarter. Finally, Abacus Wealth Partners LLC bought a new stake in The Hartford Insurance Group during the 4th quarter worth $1,971,000. 93.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the transaction, the president owned 38,208 shares in the company, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Stock Down 2.7%

Shares of HIG opened at $134.48 on Thursday. The stock’s 50-day moving average price is $132.79 and its two-hundred day moving average price is $135.38. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. The company has a market capitalization of $36.86 billion, a PE ratio of 9.45, a PEG ratio of 3.16 and a beta of 0.47. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the company posted $2.20 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts anticipate that The Hartford Insurance Group, Inc. will post 12.81 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 1st were issued a $0.60 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio is presently 16.87%.

Wall Street Analyst Weigh In

HIG has been the subject of several research reports. Bank of America increased their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods boosted their price target on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research note on Wednesday. Wells Fargo & Company raised their price objective on shares of The Hartford Insurance Group from $154.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Barclays reduced their target price on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, June 12th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $148.38.

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.