Rehmann Capital Advisory Group Cuts Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• Rehmann Capital Advisory Group has reduced its stake in The Hartford Insurance Group by 23.8%, now owning 7,200 shares valued at approximately $914,000.
• Noteworthy institutional investors, such as Woodline Partners LP, have increased their positions significantly, with Woodline boosting their stake by 28,218.5% in the first quarter.
• Stock analysts have generally positive outlooks for The Hartford, with price target increases from several firms, including Wells Fargo raising it from $139.00 to $147.00.

Rehmann Capital Advisory Group decreased its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 23.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,200 shares of the insurance provider's stock after selling 2,244 shares during the quarter. Rehmann Capital Advisory Group's holdings in The Hartford Insurance Group were worth $914,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Woodline Partners LP lifted its position in The Hartford Insurance Group by 28,218.5% during the first quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider's stock valued at $93,763,000 after purchasing an additional 755,128 shares during the period. Nuveen LLC bought a new position in The Hartford Insurance Group during the first quarter valued at approximately $87,516,000. Bahl & Gaynor Inc. lifted its position in The Hartford Insurance Group by 47.0% during the first quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider's stock valued at $264,972,000 after purchasing an additional 684,390 shares during the period. Amundi lifted its position in The Hartford Insurance Group by 27.4% during the first quarter. Amundi now owns 1,943,498 shares of the insurance provider's stock valued at $239,905,000 after purchasing an additional 417,951 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in The Hartford Insurance Group by 38.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,493,077 shares of the insurance provider's stock valued at $189,427,000 after purchasing an additional 414,216 shares during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.

Insider Buying and Selling at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,340 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the completion of the transaction, the chief financial officer directly owned 77,574 shares of the company's stock, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the firm's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group increased their price target on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Citigroup assumed coverage on shares of The Hartford Insurance Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $138.00 price target on the stock. Wells Fargo & Company increased their price target on shares of The Hartford Insurance Group from $139.00 to $147.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $140.07.

The Hartford Insurance Group Stock Down 0.1%

Shares of HIG stock opened at $124.98 on Thursday. The company has a market capitalization of $35.14 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.21 and a beta of 0.69. The company's fifty day moving average price is $131.14 and its 200-day moving average price is $126.55. The Hartford Insurance Group, Inc. has a one year low of $104.93 and a one year high of $135.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.58. The company had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The Hartford Insurance Group's quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $2.50 earnings per share. Sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

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.

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