OLD National Bancorp IN Sells 864 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

OLD National Bancorp IN cut its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 23.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,793 shares of the insurance provider’s stock after selling 864 shares during the period. OLD National Bancorp IN’s holdings in The Hartford Financial Services Group were worth $346,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Spurstone Advisory Services LLC bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth about $33,000. Itau Unibanco Holding S.A. bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth about $35,000. DT Investment Partners LLC increased its holdings in shares of The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after buying an additional 110 shares during the last quarter. Flagship Wealth Advisors LLC bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth about $36,000. Finally, Key Financial Inc increased its holdings in shares of The Hartford Financial Services Group by 526.3% in the 4th quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock worth $39,000 after buying an additional 300 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Allison G. Niderno sold 1,086 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the transaction, the senior vice president now directly owns 622 shares of the company’s stock, valued at $74,279.24. This trade represents a 63.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher Swift sold 1,144 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total transaction of $143,000.00. Following the completion of the transaction, the chief executive officer now directly owns 211,082 shares in the company, valued at $26,385,250. This trade represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,291 shares of company stock worth $12,078,254 in the last ninety days. 1.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Barclays lifted their price target on shares of The Hartford Financial Services Group from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Jefferies Financial Group dropped their price target on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Keefe, Bruyette & Woods dropped their price target on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company dropped their price target on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.71.

The Hartford Financial Services Group Stock Performance

NYSE:HIG opened at $124.82 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $35.46 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.12 and a beta of 0.71. The company’s 50-day moving average is $123.47 and its two-hundred day moving average is $117.82. The Hartford Financial Services Group, Inc. has a 1-year low of $98.16 and a 1-year high of $132.09.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period in the prior year, the business posted $2.34 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.67%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.74%.

The Hartford Financial Services Group Company 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.