SVB Wealth LLC Sells 423 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

SVB Wealth LLC decreased its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,388 shares of the insurance provider’s stock after selling 423 shares during the period. SVB Wealth LLC’s holdings in The Hartford Financial Services Group were worth $755,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. raised its position in shares of The Hartford Financial Services Group by 11.7% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock valued at $254,000 after purchasing an additional 331 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $2,875,000. New Millennium Group LLC bought a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $1,552,000. SteelPeak Wealth LLC bought a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $1,691,000. Finally, Cerity Partners LLC raised its position in shares of The Hartford Financial Services Group by 19.8% in the fourth quarter. Cerity Partners LLC now owns 49,614 shares of the insurance provider’s stock valued at $4,003,000 after purchasing an additional 8,203 shares during the period. Institutional investors own 93.42% of the company’s stock.

Insider Activity

In other news, CEO Christopher Swift sold 956 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were 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 of the company’s stock, valued at approximately $14,635,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Christopher Swift sold 956 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $86.00, for a total transaction of $82,216.00. Following the completion of the sale, the chief executive officer now directly owns 170,180 shares in the company, valued at approximately $14,635,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert W. Paiano sold 14,528 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total transaction of $1,365,196.16. Following the sale, the executive vice president now owns 46,792 shares of the company’s stock, valued at $4,397,044.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,264 shares of company stock valued at $18,438,369. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

HIG stock opened at $98.95 on Friday. 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 one year low of $67.05 and a one year high of $103.64. The stock has a market cap of $29.42 billion, a PE ratio of 12.38, a P/E/G ratio of 1.37 and a beta of 0.89. The firm has a 50 day simple moving average of $97.80 and a two-hundred day simple moving average of $85.25.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.62. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The company had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the company earned $2.31 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. On average, analysts predict that The Hartford Financial Services Group, Inc. will post 10.13 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were paid a $0.47 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.90%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 23.53%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HIG. Morgan Stanley boosted their price target on shares of The Hartford Financial Services Group from $94.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their target price on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. TD Cowen upped their target price on shares of The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Citigroup upped their target price on shares of The Hartford Financial Services Group from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.56.

The Hartford Financial Services Group 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.