Manning & Napier Advisors LLC Lowers Holdings in The Hartford Insurance Group, Inc. (NYSE:HIG)

Manning & Napier Advisors LLC cut its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 7.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,348 shares of the insurance provider's stock after selling 7,814 shares during the quarter. Manning & Napier Advisors LLC's holdings in The Hartford Insurance Group were worth $11,302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Horizon Advisory Services Inc. purchased a new stake in shares of The Hartford Insurance Group during the fourth quarter valued at $277,000. Victory Capital Management Inc. boosted its position in shares of The Hartford Insurance Group by 4.5% during 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 buying an additional 202,487 shares during the last quarter. M&T Bank Corp boosted its position in shares of The Hartford Insurance Group by 13.9% during the fourth quarter. M&T Bank Corp now owns 46,868 shares of the insurance provider's stock valued at $5,127,000 after buying an additional 5,702 shares during the last quarter. Equity Investment Corp boosted its position in shares of The Hartford Insurance Group by 1.0% during the fourth quarter. Equity Investment Corp now owns 585,344 shares of the insurance provider's stock valued at $64,037,000 after buying an additional 5,962 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of The Hartford Insurance Group during the fourth quarter valued at $761,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Insurance Group Trading Down 2.0%

Shares of The Hartford Insurance Group stock traded down $2.54 on Wednesday, reaching $124.04. The company had a trading volume of 1,279,917 shares, compared to its average volume of 1,583,017. The firm's 50-day moving average price is $125.77 and its two-hundred day moving average price is $118.09. 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 debt-to-equity ratio of 0.26, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $35.24 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.23 and a beta of 0.71.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data 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 Hartford Insurance Group had a return on equity of 18.73% and a net margin of 11.10%. The company had revenue of $6.81 billion during the quarter, compared to analysts' expectations of $6.97 billion. During the same quarter in the previous year, the business earned $2.34 EPS. The Hartford Insurance Group's revenue was up 6.1% compared to the same quarter last year. As a group, 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, June 2nd. The Hartford Insurance Group's payout ratio is 20.74%.

Analyst Upgrades and Downgrades

HIG has been the topic of several research reports. Wall Street Zen raised The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Raymond James Financial raised their target price on The Hartford Insurance Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Wells Fargo & Company dropped their target price on The Hartford Insurance Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Keefe, Bruyette & Woods dropped 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 report on Wednesday, April 9th. Finally, Morgan Stanley raised their target price on The Hartford Insurance Group from $115.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $131.15.

Insider Transactions at The Hartford Insurance Group

In other news, CEO Christopher Swift sold 1,144 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was 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 approximately $26,385,250. This represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Allison G. Niderno sold 1,086 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the completion of the transaction, the senior vice president now directly owns 622 shares in the company, valued at $74,279.24. This represents a 63.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

The Hartford Insurance Group Company 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.