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

Illinois Municipal Retirement Fund cut its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 2.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 212,208 shares of the insurance provider’s stock after selling 4,682 shares during the period. Illinois Municipal Retirement Fund’s holdings in The Hartford Insurance Group were worth $28,697,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HIG. Ashton Thomas Private Wealth LLC bought a new stake in The Hartford Insurance Group in the first quarter worth approximately $207,000. NewEdge Advisors LLC boosted its holdings in shares of The Hartford Insurance Group by 1.6% during the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock worth $7,122,000 after buying an additional 886 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of The Hartford Insurance Group by 3.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 167,868 shares of the insurance provider’s stock worth $21,297,000 after buying an additional 6,285 shares in the last quarter. HUB Investment Partners LLC grew its position in shares of The Hartford Insurance Group by 9.8% during the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock worth $878,000 after buying an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of The Hartford Insurance Group by 25.5% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 193,020 shares of the insurance provider’s stock worth $24,488,000 after buying an additional 39,220 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $134.48 on Thursday. The Hartford Insurance Group, Inc. has a 12-month low of $119.61 and a 12-month high of $144.50. The business’s fifty day moving average is $132.79 and its 200 day moving average is $135.38. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a market cap of $36.86 billion, a P/E ratio of 9.45, a P/E/G ratio of 3.16 and a beta of 0.47.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts’ consensus estimates 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 $7.23 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter last year, the firm posted $2.20 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 12.81 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, July 2nd. Stockholders of record on Monday, June 1st were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.87%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings downgraded shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 27th. Cantor Fitzgerald raised their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Barclays cut their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Finally, Wells Fargo & Company raised their target price on The Hartford Insurance Group from $154.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $148.38.

Insider Activity at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the business’s stock in a transaction dated 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 sale, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.

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.