The Hartford Insurance Group (NYSE:HIG) CFO Beth Ann Costello Sells 35,339 Shares of Stock

The Hartford Insurance Group, Inc. (NYSE:HIG) CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $136.58, for a total transaction of $4,826,600.62. Following the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $10,595,056.92. This represents a 31.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

The Hartford Insurance Group Stock Performance

HIG stock opened at $136.78 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The firm has a market cap of $38.11 billion, a PE ratio of 11.17, a P/E/G ratio of 1.23 and a beta of 0.61. The business has a 50 day moving average of $134.08 and a 200-day moving average of $130.21. The Hartford Insurance Group, Inc. has a 12-month low of $104.93 and a 12-month high of $140.50.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.76. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.07% and a net margin of 12.75%.The Hartford Insurance Group’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $2.53 earnings per share. As a group, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, December 1st were given a dividend of $0.60 per share. The ex-dividend date was Monday, December 1st. This is an increase from The Hartford Insurance Group’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a yield of 1.8%. The Hartford Insurance Group’s dividend payout ratio (DPR) is currently 19.61%.

Institutional Trading of The Hartford Insurance Group

Institutional investors have recently added to or reduced their stakes in the stock. JPL Wealth Management LLC bought a new stake in shares of The Hartford Insurance Group during the third quarter valued at about $26,000. Princeton Global Asset Management LLC purchased a new position in The Hartford Insurance Group during the third quarter valued at approximately $27,000. Cornerstone Planning Group LLC increased its holdings in The Hartford Insurance Group by 707.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 184 shares during the period. Sunbelt Securities Inc. purchased a new stake in The Hartford Insurance Group in the 3rd quarter worth approximately $29,000. Finally, United Financial Planning Group LLC bought a new position in The Hartford Insurance Group in the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on HIG. Wells Fargo & Company reduced their target price on shares of The Hartford Insurance Group from $147.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. UBS Group upped their price objective on The Hartford Insurance Group from $151.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Morgan Stanley raised their target price on The Hartford Insurance Group from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. JPMorgan Chase & Co. boosted their target price on The Hartford Insurance Group from $142.00 to $143.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, Wolfe Research began coverage on The Hartford Insurance Group in a research note on Tuesday, September 16th. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.33.

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.