Key Points
- The Hartford's CFO, Beth Ann Costello, sold 35,339 shares on Jan. 2 at an average price of $136.58 for about $4.83 million, cutting her direct stake by 31.3% to 77,574 shares.
- The company raised its quarterly dividend to $0.60 (annualized $2.40) from $0.52, implying a 1.8% yield and a payout ratio of roughly 19.6%.
- Hartford beat quarterly EPS estimates with $3.78 EPS vs. $3.02 expected, and analysts carry a consensus "Moderate Buy" rating with an average price target of $146.33.
The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $136.58, for a total value of $4,826,600.62. Following the sale, the chief financial officer directly owned 77,574 shares of the company's stock, valued at $10,595,056.92. This represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
The Hartford Insurance Group Stock Performance
NYSE:HIG opened at $136.78 on Wednesday. The business's 50-day moving average price is $134.08 and its two-hundred day moving average price is $130.21. The Hartford Insurance Group, Inc. has a twelve month low of $104.93 and a twelve month high of $140.50. The stock has a market cap of $38.11 billion, a P/E ratio of 11.17, a PEG ratio of 1.23 and a beta of 0.61. 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 Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Monday, October 27th. The insurance provider reported $3.78 EPS for the quarter, topping the consensus estimate of $3.02 by $0.76. The company had revenue of $1.05 billion during 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 revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.53 earnings per share. As a group, equities analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.
The Hartford Insurance Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 1st were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, December 1st. This is a positive change from The Hartford Insurance Group's previous quarterly dividend of $0.52. The Hartford Insurance Group's payout ratio is currently 19.61%.
Analysts Set New Price Targets
Several research analysts recently issued reports on HIG shares. Wall Street Zen lowered shares of The Hartford Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, November 1st. Wells Fargo & Company dropped their price target on The Hartford Insurance Group from $147.00 to $140.00 and set an "overweight" rating for the company in a research note on Wednesday, October 29th. Mizuho started coverage on The Hartford Insurance Group in a research report on Tuesday, December 16th. They set an "outperform" rating and a $160.00 price objective on the stock. UBS Group boosted their target price on The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, December 8th. Finally, Keefe, Bruyette & Woods increased their price target on shares of The Hartford Insurance Group from $145.00 to $160.00 and gave the company an "outperform" rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, The Hartford Insurance Group has an average rating of "Moderate Buy" and an average price target of $146.33.
View Our Latest Stock Report on The Hartford Insurance Group
Hedge Funds Weigh In On The Hartford Insurance Group
Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of The Hartford Insurance Group in the second quarter valued at about $506,329,000. Franklin Resources Inc. grew its stake in shares of The Hartford Insurance Group by 51.5% in the second quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider's stock worth $414,632,000 after purchasing an additional 1,111,659 shares during the last quarter. Woodline Partners LP increased its holdings in The Hartford Insurance Group by 28,218.5% during the 1st quarter. Woodline Partners LP now owns 757,804 shares of the insurance provider's stock valued at $93,763,000 after purchasing an additional 755,128 shares during the period. Danske Bank A S bought a new position in The Hartford Insurance Group during the 3rd quarter valued at approximately $91,398,000. Finally, Balyasny Asset Management L.P. lifted its holdings in The Hartford Insurance Group by 6,431.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider's stock worth $85,829,000 after buying an additional 633,592 shares during the period. 93.42% of the stock is currently owned by institutional investors.
About The Hartford Insurance Group
(
Get Free Report)
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.
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