Allworth Financial LP Sells 726 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Allworth Financial LP reduced its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,567 shares of the insurance provider’s stock after selling 726 shares during the period. Allworth Financial LP’s holdings in The Hartford Financial Services Group were worth $930,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HIG. Norges Bank bought a new stake in The Hartford Financial Services Group in the 4th quarter valued at about $277,618,000. Moneta Group Investment Advisors LLC bought a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at about $215,742,000. Victory Capital Management Inc. increased its position in shares of The Hartford Financial Services Group by 26.7% during the third quarter. Victory Capital Management Inc. now owns 5,142,167 shares of the insurance provider’s stock valued at $364,631,000 after buying an additional 1,083,420 shares during the period. Schonfeld Strategic Advisors LLC increased its position in shares of The Hartford Financial Services Group by 324.6% during the first quarter. Schonfeld Strategic Advisors LLC now owns 938,693 shares of the insurance provider’s stock valued at $65,418,000 after buying an additional 717,613 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of The Hartford Financial Services Group by 722.9% during the first quarter. Renaissance Technologies LLC now owns 757,100 shares of the insurance provider’s stock valued at $54,367,000 after buying an additional 665,100 shares during the period. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Stock Down 0.5 %

Shares of HIG opened at $102.76 on Tuesday. The firm has a market cap of $30.55 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.47 and a beta of 0.89. The stock has a 50 day simple moving average of $96.24 and a two-hundred day simple moving average of $83.80. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group, Inc. has a 1 year low of $67.01 and a 1 year high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.62. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. The Hartford Financial Services Group’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts forecast that The Hartford Financial Services Group, Inc. will post 10.01 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 annualized dividend and a yield of 1.83%. The Hartford Financial Services Group’s payout ratio is currently 23.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Raymond James reiterated an “outperform” rating and set a $120.00 price target (up from $100.00) on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Royal Bank of Canada upped their price target on The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a “sector perform” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. upped their price target on The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday. Roth Mkm boosted their price objective on The Hartford Financial Services Group from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Finally, UBS Group boosted their price objective on The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $97.88.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 956 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $86.00, for a total value of $82,216.00. Following the completion of the sale, the chief executive officer now owns 170,180 shares in the company, valued at $14,635,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other The Hartford Financial Services Group news, CEO Christopher Swift sold 956 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $86.00, for a total value of $82,216.00. Following the completion of the sale, the chief executive officer now owns 170,180 shares in the company, valued at $14,635,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Beth Ann Costello sold 38,915 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $95.42, for a total value of $3,713,269.30. Following the transaction, the chief financial officer now owns 69,169 shares of the company’s stock, valued at approximately $6,600,105.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 256,005 shares of company stock worth $22,979,552. 1.80% of the stock is currently owned by insiders.

About The Hartford Financial Services Group

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.