Bessemer Group Inc. Sells 31,038 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG)

Bessemer Group Inc. cut its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 72.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,587 shares of the insurance provider's stock after selling 31,038 shares during the period. Bessemer Group Inc.'s holdings in The Hartford Insurance Group were worth $1,435,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. grew its stake in shares of The Hartford Insurance Group by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider's stock valued at $514,363,000 after acquiring an additional 202,487 shares in the last quarter. M&T Bank Corp grew its stake in shares of The Hartford Insurance Group by 13.9% in the fourth quarter. M&T Bank Corp now owns 46,868 shares of the insurance provider's stock valued at $5,127,000 after acquiring an additional 5,702 shares in the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in shares of The Hartford Insurance Group in the fourth quarter valued at about $761,000. Marshall Wace LLP acquired a new position in shares of The Hartford Insurance Group in the fourth quarter valued at about $10,501,000. Finally, SRS Capital Advisors Inc. grew its stake in shares of The Hartford Insurance Group by 718.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,604 shares of the insurance provider's stock valued at $285,000 after acquiring an additional 2,286 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on HIG shares. UBS Group upped their price target on shares of The Hartford Insurance Group from $139.00 to $142.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Morgan Stanley increased their price objective on shares of The Hartford Insurance Group from $115.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. increased their price objective on shares of The Hartford Insurance Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on shares of The Hartford Insurance Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Jefferies Financial Group reduced their price objective on shares of The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $132.58.

Insider Activity at The Hartford Insurance Group

In related news, CEO Christopher Swift sold 1,144 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total value of $143,000.00. Following the completion of the transaction, the chief executive officer now owns 211,082 shares in the company, valued at $26,385,250. This trade represents a 0.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Allison G. Niderno sold 1,086 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the completion of the transaction, the senior vice president now owns 622 shares of the company's stock, valued at approximately $74,279.24. This trade represents a 63.58% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

The Hartford Insurance Group Trading Down 0.2%

HIG opened at $124.55 on Monday. The company's 50 day moving average is $126.18 and its 200-day moving average is $118.36. The Hartford Insurance Group, Inc. has a 1-year low of $98.16 and a 1-year high of $132.09. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.26. The company has a market cap of $35.38 billion, a P/E ratio of 12.42, a PEG ratio of 1.21 and a beta of 0.71.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.05. The Hartford Insurance Group had a net margin of 11.10% and a return on equity of 18.73%. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same period last year, the company posted $2.34 EPS. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, June 2nd will be issued a $0.52 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.67%. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 20.74%.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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