Retirement Systems of Alabama Has $37.10 Million Holdings in The Hartford Insurance Group, Inc. $HIG

Retirement Systems of Alabama lowered its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 1.7% during the second quarter, HoldingsChannel reports. The firm owned 292,386 shares of the insurance provider’s stock after selling 4,952 shares during the quarter. Retirement Systems of Alabama’s holdings in The Hartford Insurance Group were worth $37,095,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Private Wealth Management Group LLC raised its holdings in The Hartford Insurance Group by 151.1% during the 2nd quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after buying an additional 133 shares during the period. Park Square Financial Group LLC raised its holdings in shares of The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 155 shares during the period. Meeder Asset Management Inc. lifted its position in The Hartford Insurance Group by 123.8% in the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 161 shares in the last quarter. Signature Resources Capital Management LLC acquired a new position in The Hartford Insurance Group in the 2nd quarter worth $38,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of The Hartford Insurance Group in the 1st quarter valued at about $43,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Raymond James Financial reissued an “outperform” rating and set a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Wolfe Research started coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Cantor Fitzgerald assumed coverage on The Hartford Insurance Group in a research report on Wednesday, August 13th. They set an “overweight” rating and a $152.00 price target for the company. Finally, Weiss Ratings cut The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Saturday, October 25th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $139.57.

Insiders Place Their Bets

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the sale, the chief financial officer owned 77,574 shares in the company, valued at $9,580,389. This represents a 31.30% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.50% of the stock is owned by company insiders.

The Hartford Insurance Group Stock Up 0.8%

HIG stock opened at $123.36 on Friday. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.31. The stock has a market capitalization of $34.37 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.19 and a beta of 0.69. The business’s fifty day moving average price is $130.20 and its two-hundred day moving average price is $127.08.

The Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, beating the consensus estimate of $3.02 by $0.76. The Hartford Insurance Group had a net margin of 12.75% and a return on equity of 21.07%. The business had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the prior year, the company posted $2.53 earnings per share. The Hartford Insurance Group’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 1st will be given a dividend of $0.60 per share. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, December 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.99%.

About The Hartford Insurance Group

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.