Mn Services Vermogensbeheer B.V. Trims Stock Holdings in The Hartford Insurance Group, Inc. $HIG

Key Points

• Mn Services Vermogensbeheer B.V. reduced its stake in The Hartford Insurance Group by 1.9%, now holding 106,700 shares valued at approximately $13.54 million.
• In the 2nd quarter, The Hartford Insurance Group reported earnings of $3.41 EPS, exceeding analysts' expectations and marking a 7.7% year-over-year revenue increase.
• A quarterly dividend of $0.52 per share has been announced, reflecting a 1.6% yield, with the payment set for October 2nd for stockholders on record.

Mn Services Vermogensbeheer B.V. reduced its stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 106,700 shares of the insurance provider's stock after selling 2,100 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in The Hartford Insurance Group were worth $13,537,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Park Square Financial Group LLC increased its position in shares of The Hartford Insurance Group by 146.2% during the first quarter. Park Square Financial Group LLC now owns 261 shares of the insurance provider's stock worth $32,000 after buying an additional 155 shares during the period. Center for Financial Planning Inc. acquired a new position in shares of The Hartford Insurance Group in the 1st quarter valued at about $33,000. Meeder Asset Management Inc. grew its holdings in 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 buying an additional 161 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of The Hartford Insurance Group in the first quarter valued at about $37,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of The Hartford Insurance Group by 167.8% in the 1st quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 198 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on HIG. Wells Fargo & Company raised their target price on shares of The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Citigroup started coverage on shares of The Hartford Insurance Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $138.00 price target on the stock. UBS Group boosted their price target on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a report on Monday, August 4th. Barclays dropped their target price on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a report on Monday, July 7th. Finally, Keefe, Bruyette & Woods lifted their target price on The Hartford Insurance Group from $135.00 to $137.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, The Hartford Insurance Group presently has a consensus rating of "Hold" and a consensus price target of $138.00.

Insider Buying and Selling

In other news, CFO Beth Ann Costello sold 35,340 shares of the company's stock in a transaction 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Donald Christian Hunt sold 2,124 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $133.87, for a total transaction of $284,339.88. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

The Hartford Insurance Group Trading Down 0.6%

Shares of NYSE HIG traded down $0.75 during trading on Monday, reaching $130.20. The stock had a trading volume of 203,791 shares, compared to its average volume of 1,622,686. The Hartford Insurance Group, Inc. has a fifty-two week low of $104.93 and a fifty-two week high of $135.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.31 and a current ratio of 0.31. The business's 50-day moving average price is $128.62 and its 200-day moving average price is $125.03. The company has a market cap of $36.61 billion, a P/E ratio of 11.80, a PEG ratio of 1.27 and a beta of 0.72.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results 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 firm had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $7.02 billion. During the same period in the previous year, the firm posted $2.50 EPS. The Hartford Insurance Group's revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

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