The Hartford Insurance Group (NYSE:HIG) CEO Christopher Swift Sells 201,938 Shares

The Hartford Insurance Group, Inc. (NYSE:HIGGet Free Report) CEO Christopher Swift sold 201,938 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $136.41, for a total transaction of $27,546,362.58. Following the completion of the sale, the chief executive officer directly owned 194,817 shares in the company, valued at $26,574,986.97. This trade represents a 50.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

The Hartford Insurance Group Stock Up 1.7%

NYSE:HIG opened at $140.77 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.31 and a quick ratio of 0.32. The company’s fifty day moving average price is $134.89 and its 200-day moving average price is $131.52. The Hartford Insurance Group, Inc. has a 1-year low of $107.49 and a 1-year high of $141.53. The firm has a market capitalization of $39.23 billion, a P/E ratio of 10.55, a PEG ratio of 1.07 and a beta of 0.61.

The Hartford Insurance Group (NYSE:HIGGet Free Report) last posted its quarterly earnings results on Thursday, January 29th. The insurance provider reported $4.06 EPS for the quarter, beating the consensus estimate of $3.22 by $0.84. The company had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.29 billion. The Hartford Insurance Group had a net margin of 13.52% and a return on equity of 21.92%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.94 earnings per share. As a group, equities research analysts anticipate that The Hartford Insurance Group, Inc. will post 11.11 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in The Hartford Insurance Group during the second quarter worth about $506,329,000. Franklin Resources Inc. boosted its holdings in The Hartford Insurance Group by 51.5% in the 2nd quarter. Franklin Resources Inc. now owns 3,268,166 shares of the insurance provider’s stock valued at $414,632,000 after purchasing an additional 1,111,659 shares during the last quarter. Danske Bank A S purchased a new stake in shares of The Hartford Insurance Group in the 3rd quarter valued at approximately $91,398,000. Balyasny Asset Management L.P. increased its holdings in shares of The Hartford Insurance Group by 6,431.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 643,443 shares of the insurance provider’s stock worth $85,829,000 after buying an additional 633,592 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its position in shares of The Hartford Insurance Group by 217.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 832,291 shares of the insurance provider’s stock valued at $105,593,000 after buying an additional 570,521 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HIG shares. Royal Bank Of Canada initiated coverage on The Hartford Insurance Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $145.00 price objective on the stock. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Insurance Group from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Weiss Ratings lowered shares of The Hartford Insurance Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, January 29th. UBS Group upped their price objective on shares of The Hartford Insurance Group from $151.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Finally, Roth Mkm raised their target price on The Hartford Insurance Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, The Hartford Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $147.94.

Read Our Latest Stock Analysis on The Hartford Insurance Group

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The Hartford Insurance Group Company Profile

(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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