Mn Services Vermogensbeheer B.V. Lowers Stock Position 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 shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) by 1.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 106,700 shares of the insurance provider's stock after selling 2,100 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in The Hartford Insurance Group were worth $13,537,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HIG. Swedbank AB grew its position in The Hartford Insurance Group by 3.3% during the second quarter. Swedbank AB now owns 646,032 shares of the insurance provider's stock valued at $81,962,000 after acquiring an additional 20,353 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of The Hartford Insurance Group by 11.0% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 36,816 shares of the insurance provider's stock valued at $4,671,000 after acquiring an additional 3,658 shares during the last quarter. KMG Fiduciary Partners LLC bought a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at about $236,000. Pallas Capital Advisors LLC boosted its stake in shares of The Hartford Insurance Group by 10.8% during the second quarter. Pallas Capital Advisors LLC now owns 2,069 shares of the insurance provider's stock valued at $262,000 after purchasing an additional 201 shares during the period. Finally, Aaron Wealth Advisors LLC purchased a new stake in shares of The Hartford Insurance Group during the second quarter valued at approximately $212,000. 93.42% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Beth Ann Costello sold 35,340 shares of The Hartford Insurance Group stock in a transaction on Monday, August 4th. The stock was 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 of the company's stock, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Donald Christian Hunt sold 2,124 shares of The Hartford Insurance Group stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total value of $284,339.88. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HIG. Morgan Stanley raised their price target on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Keefe, Bruyette & Woods boosted their price target on The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Citigroup initiated coverage on The Hartford Insurance Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $138.00 target price for the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 target price (up from $135.00) on shares of The Hartford Insurance Group in a research report on Friday, August 1st. Finally, Wall Street Zen cut shares of The Hartford Insurance Group from a "buy" rating to a "hold" rating in a research report on Sunday. Seven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, The Hartford Insurance Group has a consensus rating of "Hold" and a consensus price target of $138.00.

The Hartford Insurance Group Stock Down 0.1%

HIG stock traded down $0.18 during trading on Monday, hitting $130.77. 1,167,934 shares of the stock traded hands, compared to its average volume of 1,428,228. The stock has a market cap of $36.77 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72. 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 firm's 50 day moving average is $128.78 and its two-hundred day moving average is $125.12. The Hartford Insurance Group, Inc. has a 1 year low of $104.93 and a 1 year high of $135.17.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results 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 Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter last year, the firm earned $2.50 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current 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 dividend of $0.52 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a yield of 1.6%. The Hartford Insurance Group's dividend payout ratio is currently 18.86%.

About The Hartford Insurance Group

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.