Christopher Swift Sells 201,938 Shares of The Hartford Insurance Group (NYSE:HIG) Stock

Key Points

  • Christopher Swift sold 201,938 shares on Feb. 2 at an average price of $136.41 for about $27.55M, cutting his stake by roughly 50.9% to 194,817 shares per the SEC filing.
  • The Hartford beat Q4 expectations with EPS of $4.06 vs. $3.22 consensus and revenue of $7.34B (up 6.7% YoY), reporting a 13.52% net margin and 21.92% return on equity.
  • Analyst sentiment has firmed, with Cantor Fitzgerald raising its target to $165 and several firms nudging up price targets, leaving a consensus rating of "Moderate Buy" and an average target near $147.94.

The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) CEO Christopher Swift sold 201,938 shares of the business's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the completion of the sale, the chief executive officer owned 194,817 shares in the company, valued at approximately $26,574,986.97. This trade represents a 50.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

The Hartford Insurance Group Price Performance

Shares of HIG opened at $140.77 on Thursday. The firm has a 50-day simple moving average of $134.89 and a two-hundred day simple moving average of $131.52. The stock has a market cap of $39.23 billion, a PE ratio of 10.55, a P/E/G ratio of 1.07 and a beta of 0.61. The Hartford Insurance Group, Inc. has a 1-year low of $107.49 and a 1-year high of $141.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.32.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The firm had revenue of $7.34 billion during the quarter, compared to analysts' expectations of $7.29 billion. During the same quarter last year, the company posted $2.94 EPS. The firm's quarterly revenue was up 6.7% on a year-over-year basis. As a group, analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

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Hedge Funds Weigh In On The Hartford Insurance Group

Several large investors have recently bought and sold shares of the business. Signal Advisors Wealth LLC boosted its holdings in The Hartford Insurance Group by 4.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 1,745 shares of the insurance provider's stock worth $240,000 after buying an additional 75 shares during the period. Armstrong Advisory Group Inc. lifted its position in shares of The Hartford Insurance Group by 5.8% during the third quarter. Armstrong Advisory Group Inc. now owns 1,459 shares of the insurance provider's stock worth $195,000 after acquiring an additional 80 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of The Hartford Insurance Group by 4.5% in the third quarter. Mather Group LLC. now owns 1,929 shares of the insurance provider's stock worth $257,000 after acquiring an additional 83 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in shares of The Hartford Insurance Group by 3.6% in the second quarter. Chicago Partners Investment Group LLC now owns 2,457 shares of the insurance provider's stock worth $303,000 after acquiring an additional 85 shares during the period. Finally, Monument Capital Management grew its position in shares of The Hartford Insurance Group by 0.4% in the third quarter. Monument Capital Management now owns 24,314 shares of the insurance provider's stock valued at $3,243,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on The Hartford Insurance Group from $140.00 to $142.00 and gave the company an "equal weight" rating in a report on Tuesday. Citigroup upped their target price on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the stock a "neutral" rating in a research note on Wednesday. Weiss Ratings lowered shares of The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday, January 29th. Evercore ISI boosted their price target on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the stock an "in-line" rating in a research note on Wednesday, January 7th. Finally, Roth Mkm upped their price objective on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $147.94.

Check Out Our Latest Report on HIG

The Hartford Insurance Group Company Profile

(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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