Munich Reinsurance Co Stock Corp in Munich Decreases Stake in The Hartford Insurance Group, Inc. $HIG

Munich Reinsurance Co Stock Corp in Munich lessened its holdings in shares of The Hartford Insurance Group, Inc. (NYSE:HIG) by 35.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,367 shares of the insurance provider’s stock after selling 14,032 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in The Hartford Insurance Group were worth $3,430,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of HIG. Oregon Public Employees Retirement Fund grew its stake in The Hartford Insurance Group by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 31,953 shares of the insurance provider’s stock valued at $4,321,000 after acquiring an additional 100 shares in the last quarter. Childress Capital Advisors LLC lifted its stake in The Hartford Insurance Group by 17.1% in the 1st quarter. Childress Capital Advisors LLC now owns 3,147 shares of the insurance provider’s stock worth $426,000 after purchasing an additional 459 shares in the last quarter. Abel Hall LLC acquired a new position in shares of The Hartford Insurance Group during the 1st quarter worth approximately $355,000. Whittier Trust Co. grew its position in shares of The Hartford Insurance Group by 27.7% in the first quarter. Whittier Trust Co. now owns 3,681 shares of the insurance provider’s stock valued at $502,000 after purchasing an additional 798 shares in the last quarter. Finally, Dividend Assets Capital LLC grew its position in shares of The Hartford Insurance Group by 164.8% in the first quarter. Dividend Assets Capital LLC now owns 32,329 shares of the insurance provider’s stock valued at $4,372,000 after purchasing an additional 20,122 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HIG shares. Bank of America upped their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Mizuho dropped their price objective on shares of The Hartford Insurance Group from $159.00 to $154.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Wells Fargo & Company cut their price objective on shares of The Hartford Insurance Group from $165.00 to $154.00 and set an “overweight” rating for the company in a research report on Friday, June 5th. Cantor Fitzgerald reduced their target price on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Finally, Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 27th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.38.

The Hartford Insurance Group Stock Performance

NYSE HIG opened at $138.60 on Thursday. The stock has a fifty day simple moving average of $132.58 and a 200-day simple moving average of $135.43. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The stock has a market cap of $37.99 billion, a PE ratio of 9.74, a P/E/G ratio of 2.56 and a beta of 0.47. The Hartford Insurance Group, Inc. has a twelve month low of $119.61 and a twelve month high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter last year, the firm posted $2.20 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts anticipate that The Hartford Insurance Group, Inc. will post 12.9 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Monday, June 1st were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Hartford Insurance Group’s payout ratio is 16.87%.

Insider Activity

In other news, President Adin M. Tooker sold 8,895 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total value of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.