Burford Brothers Inc. Makes New Investment in The Hartford Insurance Group, Inc. $HIG

Key Points

• Burford Brothers Inc. acquired 5,492 shares of The Hartford Insurance Group, valued at approximately $697,000, during the 2nd quarter.
• Multiple institutional investors have increased their stakes in The Hartford, with a reported 93.42% of the company's stock owned by these entities.
• Analysts have given The Hartford Insurance Group an average rating of "Moderate Buy" with a target price of around $140.07 per share.

Burford Brothers Inc. bought a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,492 shares of the insurance provider's stock, valued at approximately $697,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. NorthRock Partners LLC boosted its position in The Hartford Insurance Group by 2.6% in the 1st quarter. NorthRock Partners LLC now owns 3,177 shares of the insurance provider's stock valued at $395,000 after buying an additional 80 shares during the last quarter. Wayfinding Financial LLC lifted its stake in shares of The Hartford Insurance Group by 3.0% during the first quarter. Wayfinding Financial LLC now owns 2,861 shares of the insurance provider's stock valued at $355,000 after acquiring an additional 84 shares during the period. Wealthspire Advisors LLC boosted its holdings in The Hartford Insurance Group by 3.2% in the first quarter. Wealthspire Advisors LLC now owns 2,877 shares of the insurance provider's stock valued at $356,000 after acquiring an additional 88 shares during the last quarter. BayBridge Capital Group LLC increased its position in The Hartford Insurance Group by 2.4% in the second quarter. BayBridge Capital Group LLC now owns 3,776 shares of the insurance provider's stock worth $479,000 after purchasing an additional 89 shares during the period. Finally, GSB Wealth Management LLC increased its position in The Hartford Insurance Group by 2.4% in the second quarter. GSB Wealth Management LLC now owns 3,849 shares of the insurance provider's stock worth $488,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 93.42% of the company's stock.

Insider Activity

In related news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the completion of the sale, the chief financial officer owned 77,574 shares in the company, valued at $9,580,389. The trade was a 31.30% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 target price (up previously from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. UBS Group increased their price objective on shares of The Hartford Insurance Group from $150.00 to $152.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Cantor Fitzgerald started coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They issued an "overweight" rating and a $152.00 price objective on the stock. Piper Sandler upped their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Finally, Evercore ISI increased their price target on The Hartford Insurance Group from $133.00 to $137.00 and gave the company an "in-line" rating in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $140.07.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $124.37 on Friday. The company has a market capitalization of $34.97 billion, a PE ratio of 11.28, a PEG ratio of 1.20 and a beta of 0.69. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.17. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The stock's fifty day simple moving average is $131.43 and its 200 day simple moving average is $126.48.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.58. The company had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.50 earnings per share. On average, research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

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

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