QRG Capital Management Inc. Cuts Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• QRG Capital Management trimmed its position in The Hartford Insurance Group by 7.1% in the first quarter, selling 7,975 shares and leaving it with 103,830 shares valued at about $14.0 million.
• Several analysts remain cautiously positive on HIG, with a consensus rating of Moderate Buy and an average price target of $147.31, though recent target cuts show some hesitation.
• The Hartford recently missed earnings expectations in its latest quarter, posting EPS of $3.09 versus $3.39 expected, while also paying a quarterly dividend of $0.60 per share for a 1.7% yield.

QRG Capital Management Inc. lessened its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,830 shares of the insurance provider's stock after selling 7,975 shares during the period. QRG Capital Management Inc.'s holdings in The Hartford Insurance Group were worth $14,041,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. First Pacific Financial purchased a new position in The Hartford Insurance Group in the 1st quarter worth approximately $26,000. JPL Wealth Management LLC bought a new position in The Hartford Insurance Group in the third quarter valued at about $26,000. United Financial Planning Group LLC bought a new position in shares of The Hartford Insurance Group in the 3rd quarter worth approximately $29,000. Sunbelt Securities Inc. purchased a new stake in shares of The Hartford Insurance Group in the 3rd quarter worth $29,000. Finally, Barnes Dennig Private Wealth Management LLC grew its holdings in The Hartford Insurance Group by 144.8% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 257 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 152 shares during the period. 93.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald dropped their price target on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Bank of America lifted their price objective on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 14th. Mizuho decreased their target price on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an "outperform" rating on the stock in a research report on Friday, June 5th. UBS Group decreased their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, April 27th. Finally, Barclays decreased their price objective on shares of The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, June 12th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $147.31.

Insiders Place Their Bets

In other The Hartford Insurance Group news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the sale, the president owned 38,208 shares of the company's stock, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 Stock Down 0.2%

Shares of The Hartford Insurance Group stock opened at $137.52 on Friday. The stock has a market cap of $37.70 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 2.53 and a beta of 0.47. The firm's 50-day moving average is $132.49 and its two-hundred day moving average is $135.45. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick 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 issued its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The business had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $2.20 EPS. As a group, research analysts expect 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 firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 16.87%.

The Hartford Insurance Group Profile

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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