The Hartford's chairman and CEO Liam E. McGee spent $478,779 of his own money Friday on common shares of the property-casualty insurance company he leads.
McGee paid $19.08 per share for 25,088 shares, according to company documents filed with the U.S. Securities and Exchange Commission.
"Mr. McGee's investment demonstrates his confidence in the company," said David Snowden, a spokesman for The Hartford Financial Services Group.
After the purchase, he owned 26,836 shares of common stock and 206,606 restricted stock units.
The Hartford is undergoing a massive transformation as it sells off parts of the business and focuses on more profitable segments. For more on that, click here .