Munich Reinsurance Co Stock Corp in Munich Cuts Stock Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Munich Reinsurance cut its stake in The Hartford Insurance Group by 35.6% in the first quarter, leaving it with 25,367 shares valued at about $3.43 million.
• Analysts remain mixed on HIG: recent updates included both target price changes and ratings shifts, and the stock currently carries a Moderate Buy consensus with an average target price of $147.38.
• The Hartford reported Q1 earnings of $3.09 per share, missing estimates, while revenue came in at $7.23 billion; the company also paid a quarterly dividend of $0.60 per share, or $2.40 annually.

Munich Reinsurance Co Stock Corp in Munich lessened its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 35.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,367 shares of the insurance provider's stock after selling 14,032 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich's holdings in The Hartford Insurance Group were worth $3,430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Haven Private LLC increased its position in shares of The Hartford Insurance Group by 1.1% during the fourth quarter. Haven Private LLC now owns 6,751 shares of the insurance provider's stock worth $930,000 after purchasing an additional 71 shares in the last quarter. Signal Advisors Wealth LLC boosted its position in shares of The Hartford Insurance Group by 4.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider's stock worth $240,000 after purchasing an additional 75 shares in the last quarter. GW&K Investment Management LLC boosted its position in shares of The Hartford Insurance Group by 40.3% in the 4th quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider's stock worth $37,000 after purchasing an additional 77 shares in the last quarter. Kestra Advisory Services LLC grew its stake in The Hartford Insurance Group by 0.4% during the 4th quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider's stock worth $2,432,000 after buying an additional 79 shares during the last quarter. Finally, Koshinski Asset Management Inc. grew its stake in The Hartford Insurance Group by 3.8% during the 1st quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider's stock worth $305,000 after buying an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on HIG shares. Bank of America increased their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, April 14th. Piper Sandler dropped their price target on The Hartford Insurance Group from $154.00 to $148.00 and set an "overweight" rating on the stock in a research note on Thursday, June 11th. 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 research report on Thursday, April 9th. Keefe, Bruyette & Woods boosted their price target on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a "market perform" rating in a research note on Wednesday. Finally, Weiss Ratings lowered shares of The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a report on Wednesday, May 27th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $147.38.

Insiders Place Their Bets

In related news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction dated 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 sale, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company's stock.

The Hartford Insurance Group Price Performance

The Hartford Insurance Group stock opened at $138.60 on Thursday. The stock has a market capitalization of $37.99 billion, a P/E ratio of 9.74, a P/E/G ratio of 2.56 and a beta of 0.47. The company's fifty day moving average price is $132.58 and its 200 day moving average price is $135.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Insurance Group, Inc. has a 1 year low of $119.61 and a 1 year high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The company had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the company posted $2.20 earnings per share. The business's revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 12.9 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 1st were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 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.

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