Key Points
- Hartford president Adin Tooker sold 8,895 shares on May 27 in a pre-arranged Rule 10b5-1 transaction, raising about $1.2 million. After the sale, he still owned 38,208 shares, reducing his stake by 18.88%.
- The company’s latest earnings missed expectations, with quarterly EPS of $3.09 versus the $3.39 consensus and revenue of $7.23 billion versus $7.41 billion expected. Revenue still rose 6.1% year over year.
- The Hartford is paying a quarterly dividend of $0.60 per share, or $2.40 annually, for a yield of about 1.9%. Analysts currently rate the stock a Moderate Buy with a consensus target price of $149.31.
The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) President Adin Tooker sold 8,895 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares of the company's stock, valued at $5,163,047.04. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
The Hartford Insurance Group Stock Performance
HIG stock opened at $127.29 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $34.89 billion, a price-to-earnings ratio of 8.95, a P/E/G ratio of 2.31 and a beta of 0.50. The Hartford Insurance Group, Inc. has a 12 month low of $119.61 and a 12 month high of $144.50. The firm has a 50 day moving average of $135.47 and a two-hundred day moving average of $136.00.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing the consensus estimate of $3.39 by ($0.30). The business had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.41 billion. The Hartford Insurance Group had a return on equity of 22.52% and a net margin of 14.10%.The business's revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 earnings per share. As a group, equities analysts anticipate that The Hartford Insurance Group, Inc. will post 13.17 EPS for the current fiscal year.
The Hartford Insurance Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 1st. The Hartford Insurance Group's dividend payout ratio is currently 16.87%.
Hedge Funds Weigh In On The Hartford Insurance Group
Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in The Hartford Insurance Group by 2.1% during the 1st quarter. Bank of America Corp DE now owns 3,831,622 shares of the insurance provider's stock valued at $518,150,000 after purchasing an additional 79,827 shares during the last quarter. Kentucky Retirement Systems raised its stake in The Hartford Insurance Group by 109.3% during the 1st quarter. Kentucky Retirement Systems now owns 36,912 shares of the insurance provider's stock valued at $4,992,000 after purchasing an additional 19,276 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of The Hartford Insurance Group by 5.6% in the 1st quarter. Janus Henderson Group PLC now owns 383,504 shares of the insurance provider's stock valued at $51,862,000 after buying an additional 20,197 shares in the last quarter. Oddo BHF Asset Management Sas raised its stake in shares of The Hartford Insurance Group by 28.3% in the 1st quarter. Oddo BHF Asset Management Sas now owns 104,377 shares of the insurance provider's stock valued at $14,115,000 after buying an additional 23,015 shares in the last quarter. Finally, Strategic Investment Advisors MI acquired a new position in shares of The Hartford Insurance Group in the 1st quarter valued at $813,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of The Hartford Insurance Group from $156.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Roth Mkm upped their price objective on shares of The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, January 30th. Cantor Fitzgerald decreased their price objective on shares of The Hartford Insurance Group from $165.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. UBS Group decreased their price objective on shares of The Hartford Insurance Group from $157.00 to $155.00 and set a "buy" rating for the company in a report on Monday, April 27th. Finally, Bank of America upped their price objective on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a report on Tuesday, April 14th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, The Hartford Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $149.31.
Check Out Our Latest Analysis on The Hartford Insurance Group
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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