Adin Tooker Sells 8,895 Shares of The Hartford Insurance Group (NYSE:HIG) Stock

Key Points

• Insider sale: Hartford Insurance Group President Adin Tooker sold 8,895 shares at $135.13 each, totaling about $1.2 million. The sale reduced his direct holdings by 18.88% and was made under a pre-arranged Rule 10b5-1 plan.
• Mixed operating results: The company recently reported quarterly EPS of $3.09, missing analyst expectations of $3.39, while revenue of $7.23 billion also came in below estimates. Still, revenue rose 6.1% year over year and the firm posted a 22.52% return on equity.
• Dividend and analyst outlook: Hartford declared a quarterly dividend of $0.60 per share, or $2.40 annually, for a 1.9% yield. Wall Street currently has a consensus Moderate Buy rating with a 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 dated Wednesday, May 27th. The shares were 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. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

The Hartford Insurance Group Price Performance

HIG stock traded down $1.68 during midday trading on Friday, reaching $127.29. The company had a trading volume of 3,232,382 shares, compared to its average volume of 1,573,630. The company has a market capitalization of $34.89 billion, a price-to-earnings ratio of 8.95, a price-to-earnings-growth ratio of 2.37 and a beta of 0.50. The stock has a 50 day moving average price of $135.58 and a 200-day moving average price of $136.06. The Hartford Insurance Group, Inc. has a 1-year low of $119.61 and a 1-year high of $144.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $3.09 EPS for the quarter, missing analysts' consensus estimates of $3.39 by ($0.30). The company had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.41 billion. The Hartford Insurance Group had a net margin of 14.10% and a return on equity of 22.52%. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $2.20 EPS. Equities research analysts expect that The Hartford Insurance Group, Inc. will post 13.14 earnings per share for the current year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Monday, June 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.40 annualized dividend and a yield of 1.9%. The Hartford Insurance Group's payout ratio is presently 16.87%.

Wall Street Analyst Weigh In

Several brokerages have commented on HIG. Bank of America boosted their target price on The Hartford Insurance Group from $136.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 14th. Roth Mkm boosted their target price on The Hartford Insurance Group from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Friday, January 30th. Mizuho boosted their target price on The Hartford Insurance Group from $158.00 to $159.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Weiss Ratings downgraded The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday. Finally, Morgan Stanley boosted their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 3rd. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.31.

Institutional Trading of The Hartford Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allianz Asset Management GmbH grew its stake in shares of The Hartford Insurance Group by 24.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 706,293 shares of the insurance provider's stock worth $94,212,000 after acquiring an additional 140,624 shares during the period. Canada Post Corp Registered Pension Plan grew its stake in shares of 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 acquiring an additional 17,582 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew 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 acquiring an additional 13,138 shares during the period. Raiffeisen Bank International AG grew its stake in shares of The Hartford Insurance Group by 102.0% during the 3rd quarter. Raiffeisen Bank International AG now owns 20,709 shares of the insurance provider's stock worth $2,739,000 after acquiring an additional 10,455 shares during the period. Finally, National Pension Service grew its stake in shares of The Hartford Insurance Group by 6.7% during the 3rd quarter. National Pension Service now owns 509,580 shares of the insurance provider's stock worth $67,973,000 after acquiring an additional 31,912 shares during the period. 93.42% of the stock is currently owned by institutional investors.

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.

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