Victory Capital Management Inc. Sells 99,586 Shares of The Hartford Insurance Group, Inc. $HIG

Victory Capital Management Inc. trimmed its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 3.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,075,791 shares of the insurance provider’s stock after selling 99,586 shares during the period. Victory Capital Management Inc. owned approximately 1.10% of The Hartford Insurance Group worth $423,844,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider’s stock worth $10,178,152,000 after buying an additional 73,835,976 shares in the last quarter. State Street Corp boosted its holdings in shares of The Hartford Insurance Group by 0.4% during the 3rd quarter. State Street Corp now owns 16,031,840 shares of the insurance provider’s stock worth $2,146,749,000 after buying an additional 55,983 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of The Hartford Insurance Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 7,948,948 shares of the insurance provider’s stock worth $1,091,440,000 after buying an additional 34,274 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of The Hartford Insurance Group by 10.3% during the 3rd quarter. Invesco Ltd. now owns 5,331,293 shares of the insurance provider’s stock worth $711,141,000 after buying an additional 496,821 shares in the last quarter. Finally, Norges Bank bought a new position in shares of The Hartford Insurance Group during the 4th quarter worth approximately $611,724,000. 93.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of recent research reports. Cantor Fitzgerald cut their target price on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Wells Fargo & Company cut their target price on The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating on the stock in a report on Friday, June 5th. Mizuho cut their target price on The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. Piper Sandler cut their target price on The Hartford Insurance Group from $154.00 to $148.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Keefe, Bruyette & Woods cut their target price on The Hartford Insurance Group from $149.00 to $142.00 and set a “market perform” rating on the stock in a report on Thursday, June 4th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Hartford Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $147.31.

Insider Buying and Selling

In related news, President Adin M. Tooker sold 8,895 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value 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 approximately $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Trading Up 0.8%

NYSE HIG opened at $129.49 on Friday. The firm has a market capitalization of $35.50 billion, a P/E ratio of 9.10, a PEG ratio of 2.33 and a beta of 0.47. The business has a fifty day simple moving average of $134.34 and a 200 day simple moving average of $135.67. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. The company has a current ratio of 0.31, a quick 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 EPS for the quarter, missing analysts’ consensus estimates of $3.39 by ($0.30). The company had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 earnings per share. On average, 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 business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be given a $0.60 dividend. 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, June 1st. The Hartford Insurance Group’s dividend payout ratio is presently 16.87%.

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.