Illinois Municipal Retirement Fund Raises Holdings in The Hartford Insurance Group, Inc. $HIG

Illinois Municipal Retirement Fund increased its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 11.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 209,524 shares of the insurance provider’s stock after buying an additional 21,617 shares during the period. Illinois Municipal Retirement Fund’s holdings in The Hartford Insurance Group were worth $27,948,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wedbush Securities Inc. lifted its stake in shares of The Hartford Insurance Group by 6.7% during the 3rd quarter. Wedbush Securities Inc. now owns 9,004 shares of the insurance provider’s stock worth $1,201,000 after purchasing an additional 562 shares during the last quarter. Leuthold Group LLC raised its holdings in The Hartford Insurance Group by 3.2% in the third quarter. Leuthold Group LLC now owns 36,145 shares of the insurance provider’s stock worth $4,821,000 after purchasing an additional 1,135 shares in the last quarter. Westover Capital Advisors LLC lifted its position in shares of The Hartford Insurance Group by 134.8% during the third quarter. Westover Capital Advisors LLC now owns 10,738 shares of the insurance provider’s stock valued at $1,432,000 after buying an additional 6,164 shares during the last quarter. Cibc World Market Inc. boosted its holdings in shares of The Hartford Insurance Group by 0.8% in the 3rd quarter. Cibc World Market Inc. now owns 34,222 shares of the insurance provider’s stock valued at $4,565,000 after buying an additional 268 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in shares of The Hartford Insurance Group in the 3rd quarter worth approximately $5,682,000. Institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

In other The Hartford Insurance Group news, CFO Beth Ann Costello sold 35,339 shares of the company’s 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 sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at approximately $10,595,056.92. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Swift sold 100,970 shares of The Hartford Insurance Group stock in a transaction dated 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 transaction, the chief executive officer owned 194,817 shares of the company’s stock, valued at $27,426,337.26. The trade was a 34.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 338,247 shares of company stock worth $46,587,520 in the last quarter. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on HIG. Wall Street Zen downgraded shares of The Hartford Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Citigroup raised their price objective on The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada assumed coverage on The Hartford Insurance Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $145.00 target price on the stock. UBS Group raised their price target on The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Finally, JPMorgan Chase & Co. boosted their price target on The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $148.13.

The Hartford Insurance Group Stock Up 0.2%

Shares of HIG stock opened at $141.92 on Thursday. The Hartford Insurance Group, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $144.50. The firm has a market capitalization of $39.54 billion, a PE ratio of 10.64, a P/E/G ratio of 1.09 and a beta of 0.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.32 and a current ratio of 0.31. The stock’s 50-day simple moving average is $135.49 and its 200-day simple moving average is $132.18.

The Hartford Insurance Group (NYSE:HIG) last issued its earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The firm had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the prior year, the firm earned $2.94 earnings per share. The Hartford Insurance Group’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

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.