New York State Teachers Retirement System Sells 17,429 Shares of The Hartford Insurance Group, Inc. $HIG

New York State Teachers Retirement System decreased its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 6.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 263,372 shares of the insurance provider’s stock after selling 17,429 shares during the period. New York State Teachers Retirement System’s holdings in The Hartford Insurance Group were worth $36,293,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Danske Bank A S bought a new position in The Hartford Insurance Group in the third quarter worth approximately $91,398,000. Balyasny Asset Management L.P. grew its stake in The Hartford Insurance Group by 6,431.8% in the third quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock worth $85,829,000 after purchasing an additional 633,592 shares in the last quarter. Zurich Insurance Group Ltd FI grew its stake in The Hartford Insurance Group by 208.2% in the third quarter. Zurich Insurance Group Ltd FI now owns 799,973 shares of the insurance provider’s stock worth $106,708,000 after purchasing an additional 540,445 shares in the last quarter. Invesco Ltd. grew its stake in The Hartford Insurance Group by 10.3% in the third quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after purchasing an additional 496,821 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in The Hartford Insurance Group by 16.7% in the third quarter. First Trust Advisors LP now owns 3,162,437 shares of the insurance provider’s stock worth $421,837,000 after purchasing an additional 452,274 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Evercore increased their price objective on The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an “in-line” rating in a research note on Wednesday, January 7th. Citigroup increased their price objective on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Cantor Fitzgerald dropped their price objective on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Morgan Stanley increased their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Finally, Wells Fargo & Company upped their target price on The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.31.

The Hartford Insurance Group Stock Performance

Shares of HIG opened at $135.99 on Friday. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. The stock has a fifty day moving average price of $137.31 and a 200-day moving average price of $134.90. 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 firm has a market cap of $37.28 billion, a PE ratio of 9.56, a P/E/G ratio of 2.44 and a beta of 0.50.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 EPS 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 business had revenue of $14.45 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the prior year, the company posted $2.20 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts predict that The Hartford Insurance Group, Inc. will post 13.26 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, March 2nd. The Hartford Insurance Group’s dividend payout ratio is currently 16.87%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 40,693 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the completion of the sale, the executive vice president owned 25,392 shares in the company, valued at approximately $3,505,365.60. This represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Swift sold 100,970 shares of the stock in a transaction 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 sale, the chief executive officer owned 194,817 shares of the company’s stock, valued at approximately $27,426,337.26. This represents a 34.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 349,282 shares of company stock valued at $48,184,324. Company insiders own 1.30% of the company’s stock.

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.