Victory Capital Management Inc. Trims Holdings in The Hartford Insurance Group, Inc. (NYSE:HIG)

Victory Capital Management Inc. cut its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,459,632 shares of the insurance provider’s stock after selling 242,043 shares during the quarter. The Hartford Insurance Group comprises approximately 0.6% of Victory Capital Management Inc.’s portfolio, making the stock its 14th largest holding. Victory Capital Management Inc. owned about 1.57% of The Hartford Insurance Group worth $551,790,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HIG. Wayfinding Financial LLC lifted its stake in shares of The Hartford Insurance Group by 3.0% in the 1st quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider’s stock worth $355,000 after acquiring an additional 84 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in The Hartford Insurance Group by 1.7% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 5,580 shares of the insurance provider’s stock valued at $690,000 after purchasing an additional 95 shares in the last quarter. NorthCrest Asset Manangement LLC increased its position in The Hartford Insurance Group by 0.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,286 shares of the insurance provider’s stock worth $1,453,000 after purchasing an additional 105 shares during the period. International Assets Investment Management LLC raised its stake in shares of The Hartford Insurance Group by 1.9% during the 1st quarter. International Assets Investment Management LLC now owns 5,766 shares of the insurance provider’s stock worth $713,000 after buying an additional 105 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of The Hartford Insurance Group by 3.0% in the fourth quarter. Quadrant Capital Group LLC now owns 4,003 shares of the insurance provider’s stock valued at $438,000 after buying an additional 117 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The Hartford Insurance Group

In related news, SVP Allison G. Niderno sold 1,086 shares of the company’s stock in a transaction on 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 directly 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 the SEC website. Company insiders own 1.60% of the company’s stock.

The Hartford Insurance Group Trading Down 2.6%

Shares of HIG stock opened at $119.72 on Wednesday. The company has a market capitalization of $34.01 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 1.19 and a beta of 0.69. 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 firm has a 50-day moving average price of $126.64 and a 200 day moving average price of $119.42. The Hartford Insurance Group, Inc. has a twelve month low of $101.02 and a twelve month high of $132.09.

The Hartford Insurance Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $6.97 billion. During the same quarter in the previous year, the business posted $2.34 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. Research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.08 annualized dividend and a yield of 1.74%. The Hartford Insurance Group’s dividend payout ratio is presently 20.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HIG shares. Jefferies Financial Group reduced their target price on The Hartford Insurance Group from $118.00 to $117.00 and set a “hold” rating for the company in a report on Friday, April 11th. UBS Group upped their target price on shares of The Hartford Insurance Group from $142.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Wall Street Zen upgraded The Hartford Insurance Group from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Wells Fargo & Company lifted their price objective on The Hartford Insurance Group from $134.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Finally, Raymond James Financial upped their target price on The Hartford Insurance Group from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, March 31st. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.