Verdence Capital Advisors LLC Has $673,000 Stock Holdings in The Hartford Insurance Group, Inc. (NYSE:HIG)

Verdence Capital Advisors LLC cut its stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 62.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,441 shares of the insurance provider's stock after selling 9,117 shares during the quarter. Verdence Capital Advisors LLC's holdings in The Hartford Insurance Group were worth $673,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legacy Capital Wealth Partners LLC increased its holdings in shares of The Hartford Insurance Group by 3.5% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 5,341 shares of the insurance provider's stock valued at $661,000 after purchasing an additional 180 shares during the period. Cullen Frost Bankers Inc. increased its stake in shares of The Hartford Insurance Group by 10.0% in the first quarter. Cullen Frost Bankers Inc. now owns 7,170 shares of the insurance provider's stock worth $887,000 after acquiring an additional 650 shares during the last quarter. Bridgewater Advisors Inc. acquired a new stake in The Hartford Insurance Group during the first quarter valued at $434,000. Larson Financial Group LLC grew its stake in The Hartford Insurance Group by 274.5% in the first quarter. Larson Financial Group LLC now owns 352 shares of the insurance provider's stock valued at $44,000 after purchasing an additional 258 shares in the last quarter. Finally, Sage Mountain Advisors LLC acquired a new position in The Hartford Insurance Group in the 1st quarter worth about $301,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Allison G. Niderno sold 1,086 shares of The Hartford Insurance Group stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction 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. The trade was a 63.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.

The Hartford Insurance Group Stock Down 0.2%

NYSE:HIG traded down $0.23 on Monday, hitting $122.63. 351,233 shares of the company's stock were exchanged, compared to its average volume of 1,596,051. The firm has a 50-day moving average price of $126.28 and a 200-day moving average price of $119.75. The Hartford Insurance Group, Inc. has a 52 week low of $101.12 and a 52 week high of $132.09. 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 company has a market cap of $34.84 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 1.28 and a beta of 0.69.

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 for the quarter, topping analysts' consensus estimates of $2.15 by $0.05. The Hartford Insurance Group had a net margin of 11.10% and a return on equity of 18.73%. The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same period in the previous year, the company earned $2.34 earnings per share. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Monday, June 2nd. The Hartford Insurance Group's dividend payout ratio is 20.74%.

Analysts Set New Price Targets

Several research analysts have recently commented on HIG shares. Morgan Stanley increased their price target on shares of The Hartford Insurance Group from $115.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Raymond James Financial upped their target price on shares of The Hartford Insurance Group from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Jefferies Financial Group reduced their price objective on 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 boosted their price target on shares of The Hartford Insurance Group from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Finally, Wall Street Zen raised The Hartford Insurance Group from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $133.67.

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.