The Hartford Insurance Group Sees Unusually High Options Volume (NYSE:HIG)

Key Points

• Unusually high options activity: Investors bought 13,060 call options on The Hartford, roughly 3,032% above its typical daily volume of 417 contracts.
• Analyst sentiment remains mixed: Seven analysts rate HIG a Buy, ten a Hold and one a Sell, producing an overall “Hold” rating and an average price target of $149.67.
• Strong quarterly results and dividend: The Hartford reported quarterly EPS of $3.42, beating estimates by $0.26, while revenue rose 8.1% year over year. The company also announced a $0.60 quarterly dividend, equivalent to a 1.7% yield.

The Hartford Insurance Group, Inc. (NYSE:HIG - Get Free Report) saw some unusual options trading activity on Monday. Stock investors bought 13,060 call options on the stock. This represents an increase of approximately 3,032% compared to the typical daily volume of 417 call options.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HIG shares. Bank of America boosted their price target on shares of The Hartford Insurance Group from $136.00 to $138.00 and gave the company a "neutral" rating in a research report on Tuesday, April 14th. Weiss Ratings cut shares of The Hartford Insurance Group from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday, May 27th. Cantor Fitzgerald boosted their target price on The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Zacks Research lowered The Hartford Insurance Group from a "hold" rating to a "strong sell" rating in a research report on Monday, July 27th. Finally, Wells Fargo & Company dropped their price target on The Hartford Insurance Group from $165.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $149.67.

Insider Buying and Selling at The Hartford Insurance Group

In other news, President Adin M. Tooker sold 8,895 shares of the company'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 sale, the president owned 38,208 shares of the company's stock, valued at approximately $5,163,047.04. This represents a 18.88% decrease in their position. The transaction was disclosed in a document filed 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. Insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its position in shares of The Hartford Insurance Group by 286,241.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,861,771 shares of the insurance provider's stock worth $10,178,152,000 after buying an additional 73,835,976 shares during the period. Norges Bank bought a new stake in shares of The Hartford Insurance Group in the 4th quarter valued at about $611,724,000. Allianz Asset Management GmbH raised its position in shares of The Hartford Insurance Group by 131.1% in the 4th quarter. Allianz Asset Management GmbH now owns 1,632,082 shares of the insurance provider's stock valued at $224,901,000 after acquiring an additional 925,789 shares during the period. Balyasny Asset Management L.P. raised its position in shares of The Hartford Insurance Group by 6,431.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider's stock valued at $85,829,000 after acquiring an additional 633,592 shares during the period. Finally, Zurich Insurance Group Ltd FI boosted its stake in The Hartford Insurance Group by 208.2% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 799,973 shares of the insurance provider's stock worth $106,708,000 after acquiring an additional 540,445 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Trading Up 0.5%

NYSE:HIG traded up $0.70 during trading hours on Monday, hitting $142.62. 412,365 shares of the stock were exchanged, compared to its average volume of 1,634,229. The company has a market capitalization of $38.63 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 3.48 and a beta of 0.47. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The company's 50 day moving average is $134.51 and its two-hundred day moving average is $135.72. The Hartford Insurance Group has a twelve month low of $120.33 and a twelve month high of $146.07.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, beating the consensus estimate of $3.16 by $0.26. The company had revenue of $7.26 billion during the quarter, compared to analysts' expectations of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The business's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm earned $3.41 EPS. On average, sell-side analysts anticipate that The Hartford Insurance Group will post 12.84 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The Hartford Insurance Group's dividend payout ratio is presently 15.51%.

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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