19,628 Shares in The Hartford Insurance Group, Inc. $HIG Bought by Munich Reinsurance Co Stock Corp in Munich

Key Points

• Munich Re acquired a new stake of 19,628 shares in The Hartford during Q3, valued at about $2.62 million.
• Insiders have been net sellers — executives sold notable blocks (EVP Lori Rodden 5,681 shares; CFO Beth Costello 35,339 shares) and insiders disposed of 343,928 shares (~$47.39M) over the last 90 days, leaving insiders with 1.50% ownership while institutions hold 93.42%.
• The Hartford beat quarterly EPS estimates ($4.06 vs. $3.22) with revenue up 6.7%, announced a $0.60 quarterly dividend (1.7% yield), and carries a consensus analyst rating of Moderate Buy with an average target of $148.13.

Munich Reinsurance Co Stock Corp in Munich acquired a new stake in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,628 shares of the insurance provider's stock, valued at approximately $2,618,000.

Several other large investors have also bought and sold shares of HIG. Cornerstone Planning Group LLC raised its position in shares of The Hartford Insurance Group by 707.7% during the third quarter. Cornerstone Planning Group LLC now owns 210 shares of the insurance provider's stock worth $26,000 after acquiring an additional 184 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of The Hartford Insurance Group in the third quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC boosted its holdings in The Hartford Insurance Group by 72.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 235 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 99 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in The Hartford Insurance Group in the second quarter valued at approximately $35,000. Finally, Addison Advisors LLC increased its position in The Hartford Insurance Group by 129.3% during the 2nd quarter. Addison Advisors LLC now owns 321 shares of the insurance provider's stock valued at $41,000 after purchasing an additional 181 shares during the period. 93.42% of the stock is owned by institutional investors.

Insider Transactions at The Hartford Insurance Group

In other news, EVP Lori A. Rodden sold 5,681 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $141.83, for a total value of $805,736.23. Following the transaction, the executive vice president owned 18,400 shares in the company, valued at $2,609,672. This trade represents a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Beth Ann Costello sold 35,339 shares of The Hartford Insurance Group stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 77,574 shares in the company, valued at approximately $10,595,056.92. The trade was a 31.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 343,928 shares of company stock valued at $47,393,256 over the last ninety days. 1.50% of the stock is currently owned by insiders.

The Hartford Insurance Group Stock Down 0.3%

Shares of NYSE HIG opened at $139.32 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.31. The company has a 50-day moving average price of $137.25 and a 200-day moving average price of $133.80. The stock has a market capitalization of $38.43 billion, a P/E ratio of 10.44, a P/E/G ratio of 1.35 and a beta of 0.60. The Hartford Insurance Group, Inc. has a 1 year low of $107.49 and a 1 year high of $144.50.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its earnings results 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 company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the prior year, the business posted $2.94 EPS. The firm's revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group's dividend payout ratio is 17.99%.

Analysts Set New Price Targets

Several research firms have issued reports on HIG. Roth Mkm raised their price target 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. JPMorgan Chase & Co. increased their price objective on shares of The Hartford Insurance Group from $143.00 to $146.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 7th. Citigroup lifted 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, February 4th. Mizuho assumed coverage on shares of The Hartford Insurance Group in a report on Tuesday, December 16th. They issued an "outperform" rating and a $160.00 target price on the stock. Finally, Cantor Fitzgerald upped their price target on shares of The Hartford Insurance Group from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $148.13.

About The Hartford Insurance Group

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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