Oregon Public Employees Retirement Fund Raises Stake in The Hartford Insurance Group, Inc. $HIG

Oregon Public Employees Retirement Fund raised its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 30.7% in the third quarter, Holdings Channel.com reports. The firm 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 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Princeton Global Asset Management LLC bought a new position in The Hartford Insurance Group during the 3rd quarter valued at approximately $27,000. Private Wealth Management Group LLC boosted its holdings in The Hartford Insurance Group by 151.1% in the second quarter. Private Wealth Management Group LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 133 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its stake in shares of The Hartford Insurance Group by 72.8% in 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 during the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of The Hartford Insurance Group during the second quarter valued at $35,000. Finally, Signature Resources Capital Management LLC purchased a new position in shares of The Hartford Insurance Group in the 2nd quarter worth about $38,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Insurance Group Trading Down 1.2%

Shares of HIG stock opened at $136.20 on Friday. The company has a 50-day moving average of $134.88 and a two-hundred day moving average of $130.39. The firm has a market cap of $37.95 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.23 and a beta of 0.61. The Hartford Insurance Group, Inc. has a 1-year low of $104.93 and a 1-year high of $140.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.32.

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

The Hartford Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 1st were paid a $0.60 dividend. This is a boost 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 1.8%. The ex-dividend date was Monday, December 1st. The Hartford Insurance Group’s payout ratio is 19.61%.

Insider Transactions at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,339 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the transaction, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at $10,595,056.92. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lori A. Rodden sold 7,841 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $122.41, for a total value of $959,816.81. Following the transaction, the executive vice president directly owned 18,400 shares in the company, valued at approximately $2,252,344. The trade was a 29.88% decrease in their position. The SEC filing for this sale provides additional information. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

HIG has been the topic of several recent analyst reports. Wells Fargo & Company cut their price objective on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Royal Bank Of Canada started coverage on shares of The Hartford Insurance Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the company a “neutral” rating in a research report on Wednesday. Argus boosted their price objective on shares of The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Finally, Morgan Stanley increased their target price on The Hartford Insurance Group from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $147.07.

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.