The Hartford Insurance Group (NYSE:HIG) President Sells $1,201,981.35 in Stock

The Hartford Insurance Group, Inc. (NYSE:HIG) President Adin Tooker sold 8,895 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the transaction, the president directly owned 38,208 shares of the company’s stock, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

The Hartford Insurance Group Trading Up 0.1%

Shares of HIG stock opened at $127.29 on Monday. The stock has a market cap of $34.89 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 2.28 and a beta of 0.47. The stock has a 50-day moving average of $135.47 and a 200-day moving average of $136.04. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50.

The Hartford Insurance Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 earnings per share for the quarter, missing the consensus estimate of $3.39 by ($0.30). The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The company had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the company posted $2.20 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 13.17 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group’s dividend payout ratio (DPR) is 16.87%.

Hedge Funds Weigh In On The Hartford Insurance Group

Hedge funds have recently made changes to their positions in the stock. Cornerstone Planning Group LLC grew its position in The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider’s stock worth $26,000 after buying an additional 184 shares in the last quarter. First Pacific Financial purchased a new position in The Hartford Insurance Group during the first quarter worth about $26,000. JPL Wealth Management LLC purchased a new position in The Hartford Insurance Group during the third quarter worth about $26,000. United Financial Planning Group LLC purchased a new position in The Hartford Insurance Group during the third quarter worth about $29,000. Finally, Phillip James Consulting Co. purchased a new position in The Hartford Insurance Group during the first quarter worth about $29,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HIG. Barclays dropped their price target on The Hartford Insurance Group from $159.00 to $156.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $149.00 price target (down from $163.00) on shares of The Hartford Insurance Group in a report on Monday, March 30th. Mizuho lifted their price target on The Hartford Insurance Group from $158.00 to $159.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Cantor Fitzgerald dropped their price target on The Hartford Insurance Group from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Finally, UBS Group dropped their price target on The Hartford Insurance Group from $157.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.31.

The Hartford Insurance Group Company Profile

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.