Beth Ann Costello Sells 35,340 Shares of The Hartford Insurance Group, Inc. (NYSE:HIG) Stock

Key Points

• Beth Ann Costello, CFO of The Hartford Insurance Group, sold 35,340 shares valued at $4,364,490, reducing her position by 31.30% and retaining 77,574 shares worth approximately $9.58 million.
• The Hartford reported $3.41 earnings per share (EPS) for the last quarter, exceeding estimates by $0.58, with a year-over-year revenue increase of 7.7%.
• The company declared a quarterly dividend of $0.52 per share, with a yield of 1.6%, scheduled for payment on October 2nd to stockholders of record as of September 2nd.

The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the sale, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. This trade represents a 31.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

The Hartford Insurance Group Stock Down 1.2%

Shares of The Hartford Insurance Group stock traded down $1.48 during trading on Thursday, reaching $127.33. The stock had a trading volume of 325,750 shares, compared to its average volume of 1,667,465. The Hartford Insurance Group, Inc. has a 52 week low of $104.93 and a 52 week high of $132.09. The stock has a fifty day moving average price of $124.93 and a two-hundred day moving average price of $120.93. The company has a market capitalization of $35.80 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 1.25 and a beta of 0.67. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last issued its earnings results on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.58. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the business posted $2.50 EPS. The Hartford Insurance Group's revenue was up 7.7% on a year-over-year basis. Sell-side analysts predict that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The Hartford Insurance Group's payout ratio is 18.86%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HIG. Raymond James Financial reissued an "outperform" rating and set a $140.00 price target (up from $135.00) on shares of The Hartford Insurance Group in a report on Friday, August 1st. Wells Fargo & Company increased their target price on The Hartford Insurance Group from $138.00 to $139.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. UBS Group increased their price objective on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "buy" rating in a research note on Monday. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Insurance Group from $135.00 to $137.00 and gave the company an "outperform" rating in a report on Monday. Finally, Morgan Stanley lifted their target price on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $136.42.

Institutional Trading of The Hartford Insurance Group

A number of hedge funds have recently added to or reduced their stakes in HIG. Northern Trust Corp raised its holdings in The Hartford Insurance Group by 11.3% during the 1st quarter. Northern Trust Corp now owns 3,936,615 shares of the insurance provider's stock worth $487,077,000 after purchasing an additional 398,950 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of The Hartford Insurance Group by 6.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider's stock valued at $419,053,000 after acquiring an additional 234,320 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of The Hartford Insurance Group by 1.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,509,098 shares of the insurance provider's stock worth $434,181,000 after purchasing an additional 60,116 shares during the period. First Trust Advisors LP increased its stake in The Hartford Insurance Group by 15.1% during the 4th quarter. First Trust Advisors LP now owns 2,683,531 shares of the insurance provider's stock valued at $293,578,000 after purchasing an additional 352,282 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in The Hartford Insurance Group by 48.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock valued at $247,761,000 after acquiring an additional 735,170 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Insurance Group Company Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.