Victory Capital Management Inc. Decreases Holdings in The Hartford Insurance Group, Inc. $HIG

Victory Capital Management Inc. cut its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,075,791 shares of the insurance provider’s stock after selling 99,586 shares during the quarter. Victory Capital Management Inc.’s holdings in The Hartford Insurance Group were worth $423,844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in HIG. Ashton Thomas Private Wealth LLC purchased a new stake in The Hartford Insurance Group during the first quarter valued at about $207,000. NewEdge Advisors LLC boosted its stake in The Hartford Insurance Group by 1.6% in the 2nd quarter. NewEdge Advisors LLC now owns 56,140 shares of the insurance provider’s stock worth $7,122,000 after purchasing an additional 886 shares during the period. Treasurer of the State of North Carolina boosted its stake in The Hartford Insurance Group by 3.9% in 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 purchasing an additional 6,285 shares during the period. HUB Investment Partners LLC boosted its stake in The Hartford Insurance Group by 9.8% in the 2nd quarter. HUB Investment Partners LLC now owns 6,919 shares of the insurance provider’s stock worth $878,000 after purchasing an additional 619 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in The Hartford Insurance Group by 25.5% in 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 purchasing an additional 39,220 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Insurance Group Stock Performance

NYSE:HIG opened at $129.49 on Friday. The business’s 50-day moving average price is $134.34 and its two-hundred day moving average price is $135.67. The Hartford Insurance Group, Inc. has a twelve month low of $119.61 and a twelve month high of $144.50. The stock has a market cap of $35.50 billion, a P/E ratio of 9.10, a PEG ratio of 2.33 and a beta of 0.47. 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 Hartford Insurance Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share 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 $7.23 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the previous year, the business earned $2.20 EPS. The business’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts predict that The Hartford Insurance Group, Inc. will post 13.02 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 16.87%.

Wall Street Analyst Weigh In

Several brokerages have commented on HIG. Cantor Fitzgerald cut their target price on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Weiss Ratings downgraded The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, May 27th. Mizuho cut their target price on The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Bank of America raised their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Finally, Wells Fargo & Company cut their target price on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research note on Friday, June 5th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $147.31.

Insider Buying and Selling at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. This trade represents a 18.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

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.