Berger Financial Group Inc Sells 3,710 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG)

Key Points

• Berger Financial Group Inc reduced its stake in The Hartford Insurance Group by 6.6%, selling 3,710 shares and holding a total of 52,440 shares valued at approximately $6.49 million.
• Analysts have mixed ratings, with six giving a hold rating and seven assigning a buy rating, while target prices range from $117 to $150.
• The Hartford is declaring a quarterly dividend of $0.52 per share, equating to an annual yield of 1.6%, with a total payout ratio of 18.86%.

Berger Financial Group Inc reduced its holdings in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,440 shares of the insurance provider's stock after selling 3,710 shares during the quarter. Berger Financial Group Inc's holdings in The Hartford Insurance Group were worth $6,488,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Park Square Financial Group LLC lifted its stake in shares of The Hartford Insurance Group by 146.2% in the 1st quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 155 shares during the period. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Insurance Group in the 4th quarter valued at approximately $33,000. Center for Financial Planning Inc. purchased a new position in shares of The Hartford Insurance Group in the 1st quarter valued at approximately $33,000. Itau Unibanco Holding S.A. purchased a new position in shares of The Hartford Insurance Group in the 4th quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of The Hartford Insurance Group by 123.8% in the 1st quarter. Meeder Asset Management Inc. now owns 291 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 161 shares during the period. 93.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The Hartford Insurance Group

In related news, CFO Beth Ann Costello sold 35,340 shares of the 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 completion of the transaction, the chief financial officer directly owned 77,574 shares of the company's stock, valued at approximately $9,580,389. This represents a 31.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Barclays lowered their price objective on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a research note on Monday, July 7th. Keefe, Bruyette & Woods lifted their price objective on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Raymond James Financial reiterated an "outperform" rating and set a $140.00 price objective (up previously from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Wells Fargo & Company lifted their price objective on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen upgraded The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $136.42.

The Hartford Insurance Group Stock Performance

Shares of HIG traded up $0.71 during trading hours on Tuesday, hitting $129.05. The stock had a trading volume of 927,559 shares, compared to its average volume of 1,660,093. 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 Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $132.09. The firm has a market capitalization of $36.28 billion, a PE ratio of 11.70, a PEG ratio of 1.26 and a beta of 0.67. The stock has a fifty day moving average price of $124.81 and a 200 day moving average price of $121.41.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, topping the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%. The company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the previous year, the company posted $2.50 earnings per share. The Hartford Insurance Group's revenue was up 7.7% compared to the same quarter last year. Analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.6%. The Hartford Insurance Group's dividend payout ratio is 18.86%.

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.