The Hartford Insurance Group Sees Unusually High Options Volume (NYSE:HIG)

The Hartford Insurance Group, Inc. (NYSE:HIG) saw unusually large options trading activity on Monday. Traders acquired 13,060 call options on the stock. This represents an increase of 3,032% compared to the average volume of 417 call options.

The Hartford Insurance Group Stock Performance

NYSE HIG traded up $0.70 on Monday, hitting $142.62. 412,365 shares of the stock were exchanged, compared to its average volume of 1,634,229. The Hartford Insurance Group has a 52 week low of $120.33 and a 52 week high of $146.07. The company has a market capitalization of $38.63 billion, a PE ratio of 9.22, a P/E/G ratio of 3.48 and a beta of 0.47. The business’s fifty day moving average is $134.51 and its 200 day moving average is $135.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.26. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The company had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the firm earned $3.41 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. Research analysts anticipate that The Hartford Insurance Group will post 12.84 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 15.51%.

Insider Buying and Selling at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of The Hartford Insurance Group stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares of the company’s stock, valued at $5,163,047.04. This trade represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of The Hartford Insurance Group

Large investors have recently modified their holdings of the business. First Pacific Financial bought a new stake in The Hartford Insurance Group in the first quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new stake in shares of The Hartford Insurance Group in the third quarter worth $26,000. Phillip James Consulting Co. purchased a new stake in The Hartford Insurance Group in the 1st quarter worth $29,000. Sunbelt Securities Inc. bought a new stake in The Hartford Insurance Group during the third quarter worth approximately $29,000. Finally, Sound Income Strategies LLC boosted its holdings in The Hartford Insurance Group by 45.3% during the 4th quarter. Sound Income Strategies LLC now owns 279 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 87 shares during the period. Institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Mizuho lifted their target price on The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Bank of America increased their price target on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Barclays cut their price objective on The Hartford Insurance Group from $156.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday, June 12th. Zacks Research lowered The Hartford Insurance Group from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Finally, Royal Bank Of Canada increased their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $149.67.

About The Hartford Insurance Group

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.