Rehmann Capital Advisory Group Decreases Stock Position in The Hartford Insurance Group, Inc. (NYSE:HIG)

Rehmann Capital Advisory Group reduced its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 18.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 9,444 shares of the insurance provider's stock after selling 2,197 shares during the period. Rehmann Capital Advisory Group's holdings in The Hartford Insurance Group were worth $1,169,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Spurstone Advisory Services LLC bought a new position in shares of The Hartford Insurance Group in the fourth quarter valued at approximately $33,000. Center for Financial Planning Inc. bought a new position in shares of The Hartford Insurance Group in the first quarter valued at approximately $33,000. Itau Unibanco Holding S.A. bought a new position in shares of The Hartford Insurance Group in the fourth quarter valued at approximately $35,000. Flagship Wealth Advisors LLC purchased a new stake in The Hartford Insurance Group in the fourth quarter worth $36,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of The Hartford Insurance Group during the 1st quarter valued at $37,000. 93.42% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Allison G. Niderno sold 1,086 shares of the firm'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 sale, the senior vice president directly owned 622 shares of the company's stock, valued at $74,279.24. This trade represents a 63.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler upped their price target on The Hartford Insurance Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Wells Fargo & Company increased their target price on The Hartford Insurance Group from $134.00 to $138.00 and gave the stock an "overweight" rating in a research report on Thursday. Morgan Stanley increased 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. JPMorgan Chase & Co. increased their target price on The Hartford Insurance Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Finally, Wall Street Zen upgraded The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Six research 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 company. According to data from MarketBeat, The Hartford Insurance Group presently has a consensus rating of "Moderate Buy" and an average target price of $133.67.

The Hartford Insurance Group Price Performance

NYSE HIG traded down $1.15 during trading hours on Friday, reaching $120.80. 1,124,566 shares of the stock traded hands, compared to its average volume of 1,594,671. The stock has a 50 day simple moving average of $126.84 and a two-hundred day simple moving average of $119.32. The Hartford Insurance Group, Inc. has a 1 year low of $101.02 and a 1 year high of $132.09. The company has a market cap of $34.32 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.17 and a beta of 0.69. 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 Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced 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 firm had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same period last year, the firm earned $2.34 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Monday, June 2nd were paid a $0.52 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.72%. The Hartford Insurance Group's payout ratio is presently 20.74%.

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.