Burford Brothers Inc. Takes $697,000 Position in The Hartford Insurance Group, Inc. $HIG

Burford Brothers Inc. bought a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG) in the 2nd quarter, Holdings Channel.com reports. The firm bought 5,492 shares of the insurance provider’s stock, valued at approximately $697,000.

A number of other institutional investors have also recently bought and sold shares of the business. Northern Trust Corp lifted its position in shares of The Hartford Insurance Group by 11.3% in the first quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider’s stock valued at $487,077,000 after buying an additional 398,950 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in The Hartford Insurance Group by 1.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider’s stock valued at $434,181,000 after purchasing an additional 60,116 shares during the last quarter. Bahl & Gaynor Inc. lifted its holdings in The Hartford Insurance Group by 47.0% during the 1st quarter. Bahl & Gaynor Inc. now owns 2,141,537 shares of the insurance provider’s stock valued at $264,972,000 after purchasing an additional 684,390 shares during the last quarter. Amundi boosted its position in The Hartford Insurance Group by 27.4% during the first quarter. Amundi now owns 1,943,498 shares of the insurance provider’s stock worth $239,905,000 after purchasing an additional 417,951 shares during the period. Finally, AustralianSuper Pty Ltd increased its holdings in shares of The Hartford Insurance Group by 31.9% in the first quarter. AustralianSuper Pty Ltd now owns 1,600,215 shares of the insurance provider’s stock valued at $197,995,000 after purchasing an additional 387,141 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HIG. Piper Sandler lifted their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Wolfe Research initiated coverage on The Hartford Insurance Group in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. increased their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Wall Street Zen raised The Hartford Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Citigroup started coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $138.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.07.

Insider Activity

In other The Hartford Insurance Group news, EVP Donald Christian Hunt sold 2,124 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total value of $284,339.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Beth Ann Costello sold 35,340 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $123.50, for a total transaction of $4,364,490.00. Following the sale, the chief financial officer directly owned 77,574 shares of the company’s stock, valued at approximately $9,580,389. This trade represents a 31.30% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

The Hartford Insurance Group Trading Up 0.3%

Shares of NYSE:HIG opened at $124.37 on Friday. The business’s 50 day simple moving average is $131.43 and its 200 day simple moving average is $126.48. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $135.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market capitalization of $34.97 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.20 and a beta of 0.69.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.58. The firm had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.50 EPS. On average, research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Tuesday, September 2nd. The Hartford Insurance Group’s dividend payout ratio is presently 18.86%.

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.