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

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

The Hartford Insurance Group Trading Up 2.3%

HIG opened at $138.07 on Thursday. The Hartford Insurance Group, Inc. has a one year low of $120.42 and a one year high of $146.07. The business’s 50 day moving average price is $132.87 and its 200 day moving average price is $135.43. The stock has a market capitalization of $36.92 billion, a PE ratio of 8.36, a P/E/G ratio of 1.90 and a beta of 0.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.28 and a current ratio of 0.28.

The Hartford Insurance Group (NYSE:HIG) last released 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 business had revenue of $7.22 billion for the quarter, compared to the consensus estimate of $7.37 billion. The Hartford Insurance Group had a net margin of 15.85% and a return on equity of 20.93%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.78 EPS. As a group, equities research analysts expect that The Hartford Insurance Group, Inc. will post 13.31 EPS for the current year.

The Hartford Insurance Group Increases Dividend

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

Institutional Trading of The Hartford Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in The Hartford Insurance Group in the 2nd quarter valued at approximately $4,067,052,000. Bank of America Corp DE acquired a new position in The Hartford Insurance Group during the second quarter worth approximately $350,777,000. Legal & General Group Plc bought a new stake in The Hartford Insurance Group in the 2nd quarter valued at $346,877,000. Bank of New York Mellon Corp bought a new stake in shares of The Hartford Insurance Group during the 2nd quarter worth about $337,907,000. Finally, Deutsche Bank AG bought a new position in shares of The Hartford Insurance Group during the second quarter worth approximately $145,575,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HIG has been the subject of several recent analyst reports. Truist Financial began coverage on The Hartford Insurance Group in a research note on Monday, October 12th. They set a “hold” rating and a $137.00 target price for the company. Cantor Fitzgerald lowered their price target on The Hartford Insurance Group from $145.00 to $136.00 and set an “overweight” rating on the stock in a research report on Monday. Piper Sandler downgraded The Hartford Insurance Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $148.00 to $146.00 in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods reduced their price target on shares of The Hartford Insurance Group from $144.00 to $137.00 and set a “market perform” rating for the company in a research report on Monday, October 12th. Finally, UBS Group lowered their target price on The Hartford Insurance Group from $155.00 to $149.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $144.69.

About The Hartford Insurance Group

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.