Bank of New York Mellon Corp Trims Stock Position in The Hartford Insurance Group, Inc. (NYSE:HIG)

Bank of New York Mellon Corp cut its position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,200,868 shares of the insurance provider's stock after selling 91,013 shares during the quarter. Bank of New York Mellon Corp owned 0.76% of The Hartford Insurance Group worth $272,313,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in HIG. Spurstone Advisory Services LLC acquired a new position in shares of The Hartford Insurance Group in the 4th quarter worth approximately $33,000. Center for Financial Planning Inc. acquired a new stake in The Hartford Insurance Group during the 1st quarter worth approximately $33,000. Itau Unibanco Holding S.A. acquired a new stake in The Hartford Insurance Group during the 4th quarter worth approximately $35,000. Flagship Wealth Advisors LLC bought a new position in The Hartford Insurance Group during the 4th quarter worth about $36,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in The Hartford Insurance Group during the 1st quarter worth about $37,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HIG. UBS Group raised their target price on shares of The Hartford Insurance Group from $139.00 to $142.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Keefe, Bruyette & Woods dropped their target price on The Hartford Insurance Group from $140.00 to $133.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Jefferies Financial Group dropped their price target on shares of The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Piper Sandler lifted their target price 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. Finally, Wells Fargo & Company decreased their target price on shares of The Hartford Insurance Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $132.33.

The Hartford Insurance Group Stock Down 0.5%

NYSE:HIG traded down $0.57 during trading hours on Tuesday, reaching $122.94. 152,262 shares of the company traded hands, compared to its average volume of 1,585,405. The business's 50-day moving average price is $126.95 and its two-hundred day moving average price is $119.01. The stock has a market capitalization of $34.93 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.21 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 1 year low of $99.11 and a 1 year high of $132.09. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.26.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.05. The company had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $6.97 billion. The Hartford Insurance Group had a net margin of 11.10% and a return on equity of 18.73%. The firm's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $2.34 earnings per share. Analysts predict that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd were issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.69%. The Hartford Insurance Group's dividend payout ratio (DPR) is presently 20.74%.

Insider Buying and Selling

In other news, SVP Allison G. Niderno sold 1,086 shares of the company's stock in a transaction that occurred on 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 sale, the senior vice president owned 622 shares of the company's stock, valued at approximately $74,279.24. This represents a 63.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company's stock.

The Hartford Insurance Group 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.