Key Points
- EVP Lori Rodden sold 40,693 shares on March 10 at an average price of $138.05 for a total of $5,617,668.65, cutting her stake by 61.58% to 25,392 shares.
- The Hartford beat quarterly expectations with EPS $4.06 versus $3.22 expected and $7.31 billion in revenue (revenue up 6.7% YoY), while analysts maintain a consensus "Moderate Buy" and a $148.13 price target.
- The company declared a quarterly dividend of $0.60 (annualized $2.40) with an ex-dividend date of March 2, implying a yield of about 1.8%.
The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) EVP Lori Rodden sold 40,693 shares of the company's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $138.05, for a total transaction of $5,617,668.65. Following the sale, the executive vice president owned 25,392 shares of the company's stock, valued at $3,505,365.60. The trade was a 61.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
The Hartford Insurance Group Trading Up 1.0%
Shares of NYSE:HIG traded up $1.29 during midday trading on Friday, hitting $135.70. The company had a trading volume of 280,242 shares, compared to its average volume of 1,590,244. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The Hartford Insurance Group, Inc. has a 12 month low of $107.49 and a 12 month high of $144.50. The firm has a fifty day simple moving average of $137.08 and a 200 day simple moving average of $133.87. The stock has a market cap of $37.43 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 1.31 and a beta of 0.60.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $0.84. The Hartford Insurance Group had a return on equity of 21.92% and a net margin of 13.52%.The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the company posted $2.94 earnings per share. The firm's revenue was up 6.7% on a year-over-year basis. On average, analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.
The Hartford Insurance Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be given 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 is Monday, March 2nd. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 17.99%.
Institutional Investors Weigh In On The Hartford Insurance Group
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH grew its position in The Hartford Insurance Group by 24.9% in the third quarter. Allianz Asset Management GmbH now owns 706,293 shares of the insurance provider's stock valued at $94,212,000 after purchasing an additional 140,624 shares in the last quarter. Canada Post Corp Registered Pension Plan lifted its position in The Hartford Insurance Group by 252.7% during the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 24,540 shares of the insurance provider's stock worth $3,245,000 after buying an additional 17,582 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of The Hartford Insurance Group by 109.2% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,174 shares of the insurance provider's stock worth $3,358,000 after buying an additional 13,138 shares during the last quarter. National Pension Service grew its holdings in shares of The Hartford Insurance Group by 6.7% in the 3rd quarter. National Pension Service now owns 509,580 shares of the insurance provider's stock valued at $67,973,000 after acquiring an additional 31,912 shares in the last quarter. Finally, Raiffeisen Bank International AG increased its position in shares of The Hartford Insurance Group by 102.0% in the third quarter. Raiffeisen Bank International AG now owns 20,709 shares of the insurance provider's stock valued at $2,739,000 after acquiring an additional 10,455 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have commented on HIG shares. Evercore upped their target price on shares of The Hartford Insurance Group from $137.00 to $145.00 and gave the company an "in-line" rating in a research note on Wednesday, January 7th. Citigroup upped their price objective on shares of The Hartford Insurance Group from $138.00 to $143.00 and gave the company a "neutral" rating in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods raised their price objective on The Hartford Insurance Group from $160.00 to $163.00 and gave the stock an "outperform" rating in a research note on Thursday, February 5th. Mizuho assumed coverage on The Hartford Insurance Group in a research note on Tuesday, December 16th. They issued an "outperform" rating and a $160.00 target price for the company. Finally, Argus increased their price target on The Hartford Insurance Group from $143.00 to $155.00 and gave the stock a "buy" rating in a report on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.13.
View Our Latest Analysis 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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