KBC Group NV Sells 61,991 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG)

KBC Group NV lessened its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 7.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 745,909 shares of the insurance provider's stock after selling 61,991 shares during the quarter. KBC Group NV owned about 0.26% of The Hartford Insurance Group worth $92,291,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Spurstone Advisory Services LLC bought a new stake in The Hartford Insurance Group in the fourth quarter valued at about $33,000. Center for Financial Planning Inc. bought a new stake in shares of The Hartford Insurance Group in the first quarter worth about $33,000. Itau Unibanco Holding S.A. bought a new stake in shares of The Hartford Insurance Group in the fourth quarter worth about $35,000. Flagship Wealth Advisors LLC bought a new stake in shares of The Hartford Insurance Group in the fourth quarter worth about $36,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of The Hartford Insurance Group by 167.8% in the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock worth $39,000 after acquiring an additional 198 shares in the last quarter. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Down 0.2%

Shares of NYSE:HIG opened at $124.55 on Friday. The business's 50 day simple moving average is $126.18 and its two-hundred day simple moving average is $118.30. The firm 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 company has a debt-to-equity ratio of 0.26, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a 52-week low of $98.16 and a 52-week high of $132.09.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.05. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. The Hartford Insurance Group had a return on equity of 18.73% and a net margin of 11.10%. The Hartford Insurance Group's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $2.34 earnings per share. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, June 2nd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.67%. The ex-dividend date is Monday, June 2nd. The Hartford Insurance Group's payout ratio is 20.74%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HIG. Wall Street Zen upgraded The Hartford Insurance Group from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Barclays increased their price target on The Hartford Insurance Group from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Raymond James Financial increased their price target on The Hartford Insurance Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. UBS Group upped their price objective on The Hartford Insurance Group from $139.00 to $142.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Finally, Piper Sandler upped their price objective on The Hartford Insurance Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $132.58.

Insider Transactions at The Hartford Insurance Group

In other news, SVP Allison G. Niderno sold 1,086 shares of the business's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the completion of the sale, the senior vice president now owns 622 shares of the company's stock, valued at approximately $74,279.24. The trade was a 63.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher Swift sold 1,144 shares of the company'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 transaction, the chief executive officer now directly owns 211,082 shares of the company's stock, valued at $26,385,250. The trade was a 0.54% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

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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