The Hartford Insurance Group (NYSE:HIG) Stock: Insider Beth Ann Costello Sells 31,597 Shares

The Hartford Insurance Group, Inc. (NYSE:HIG) CFO Beth Costello sold 31,597 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $135.75, for a total transaction of $4,289,292.75. Following the transaction, the chief financial officer directly owned 82,988 shares of the company’s stock, valued at approximately $11,265,621. This trade represents a 27.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

The Hartford Insurance Group Trading Up 2.3%

Shares of The Hartford Insurance Group stock traded up $3.15 during trading on Wednesday, reaching $138.07. 1,804,869 shares of the stock were exchanged, compared to its average volume of 1,655,323. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.24. The firm has a market cap of $36.92 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 1.91 and a beta of 0.48. The Hartford Insurance Group, Inc. has a 1 year low of $120.42 and a 1 year high of $146.07. The stock’s fifty day moving average is $132.87 and its 200 day moving average is $135.39.

The Hartford Insurance Group (NYSE:HIG) last announced its quarterly earnings results on Monday, October 26th. The insurance provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.17 by $0.33. The company had revenue of $7.22 billion for the quarter, compared to the consensus estimate of $7.37 billion. The Hartford Insurance Group had a return on equity of 20.93% and a net margin of 15.85%. The Hartford Insurance Group’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.78 EPS. As a group, equities research analysts expect that The Hartford Insurance Group, Inc. will post 13.28 earnings per share for the current fiscal year.

The Hartford Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 1st will be given a $0.67 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.60. The Hartford Insurance Group’s dividend payout ratio is 14.53%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HIG. MidFirst Bank bought a new position in shares of The Hartford Insurance Group in the second quarter worth approximately $26,000. Navigoe LLC bought a new stake in shares of The Hartford Insurance Group in the second quarter worth $27,000. Polaris Financial Partners purchased a new position in The Hartford Insurance Group in the third quarter worth about $27,000. Phillip James Consulting Co. bought a new stake in shares of The Hartford Insurance Group during the 1st quarter valued at about $29,000. Finally, Clearstead Trust LLC bought a new stake in shares of The Hartford Insurance Group during the 2nd quarter valued at about $29,000. 93.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HIG has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on The Hartford Insurance Group from $145.00 to $135.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Wells Fargo & Company reduced their price objective on shares of The Hartford Insurance Group from $164.00 to $158.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Zacks Research upgraded shares of The Hartford Insurance Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Cantor Fitzgerald dropped their target price on shares of The Hartford Insurance Group from $145.00 to $136.00 and set an “overweight” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their target price on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, The Hartford Insurance Group currently has a consensus rating of “Hold” and a consensus target price of $144.69.

The Hartford Insurance Group Company Profile

The Hartford Insurance Group, Inc, commonly known as The Hartford, is a financial services and insurance company headquartered in Hartford, Connecticut. Founded in 1810, the company provides property and casualty insurance, employee benefits, and related services to businesses, individuals, and organizations primarily in the United States.

The Hartford’s commercial insurance operations offer coverage for businesses of various sizes, including commercial auto, workers’ compensation, property, general liability, and specialty insurance.