Envestnet Asset Management Inc. Increases Stock Holdings in The Hartford Insurance Group, Inc. (NYSE:HIG)

Envestnet Asset Management Inc. grew its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 12.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 594,157 shares of the insurance provider's stock after purchasing an additional 66,949 shares during the period. Envestnet Asset Management Inc. owned about 0.21% of The Hartford Insurance Group worth $73,515,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Penserra Capital Management LLC grew its holdings in shares of The Hartford Insurance Group by 70.1% in the first quarter. Penserra Capital Management LLC now owns 3,573 shares of the insurance provider's stock valued at $441,000 after acquiring an additional 1,472 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in shares of The Hartford Insurance Group during the first quarter worth $287,000. McGlone Suttner Wealth Management Inc. lifted its position in shares of The Hartford Insurance Group by 5.6% during the first quarter. McGlone Suttner Wealth Management Inc. now owns 5,532 shares of the insurance provider's stock worth $684,000 after acquiring an additional 293 shares in the last quarter. Sharp Financial Services LLC purchased a new stake in shares of The Hartford Insurance Group in the first quarter worth $260,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of The Hartford Insurance Group in the first quarter worth $233,000. 93.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley raised their price target on The Hartford Insurance Group from $115.00 to $130.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Raymond James Financial boosted their target price on The Hartford Insurance Group from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. UBS Group boosted their target price on The Hartford Insurance Group from $142.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Piper Sandler raised their target price on The Hartford Insurance Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods cut their target price on The Hartford Insurance Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Six equities 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. Based on data from MarketBeat, The Hartford Insurance Group has a consensus rating of "Moderate Buy" and an average price target of $133.67.

The Hartford Insurance Group Stock Up 1.7%

Shares of HIG traded up $2.00 during trading hours on Monday, hitting $122.94. The company had a trading volume of 1,692,326 shares, compared to its average volume of 1,595,061. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $34.93 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.17 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 52-week low of $101.02 and a 52-week high of $132.09. The firm has a fifty day moving average price of $126.84 and a 200-day moving average price of $119.32.

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

The Hartford Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Monday, June 2nd. The Hartford Insurance Group's dividend payout ratio is 20.74%.

Insiders Place Their Bets

In related news, SVP Allison G. Niderno sold 1,086 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was 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 directly owned 622 shares in the company, valued at approximately $74,279.24. The trade was a 63.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.50% of the company's stock.

The Hartford Insurance Group Profile

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.