The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by UMB Bank n.a.

UMB Bank n.a. decreased its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 87.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,229 shares of the insurance provider’s stock after selling 28,299 shares during the period. UMB Bank n.a.’s holdings in The Hartford Financial Services Group were worth $523,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Catalyst Financial Partners LLC increased its position in The Hartford Financial Services Group by 3.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock worth $337,000 after purchasing an additional 90 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in The Hartford Financial Services Group by 2.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after purchasing an additional 97 shares during the last quarter. Smithfield Trust Co increased its position in The Hartford Financial Services Group by 26.7% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 100 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in The Hartford Financial Services Group by 0.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 13,286 shares of the insurance provider’s stock worth $1,453,000 after purchasing an additional 105 shares during the last quarter. Finally, Howard Capital Management Inc. increased its position in The Hartford Financial Services Group by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 2,164 shares of the insurance provider’s stock worth $237,000 after purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HIG. Barclays increased their price objective on shares of The Hartford Financial Services Group from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Jefferies Financial Group dropped their price objective 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 report on Friday, April 11th. Piper Sandler increased their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 1st. Wells Fargo & Company dropped their price objective 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 report on Thursday, April 10th. Finally, Wall Street Zen raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average target price of $129.71.

Insider Transactions at The Hartford Financial Services Group

In related news, CEO Christopher Swift sold 1,144 shares of The Hartford Financial Services Group stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total value of $143,000.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Allison G. Niderno sold 1,086 shares of The Hartford Financial Services Group stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the completion of the sale, the senior vice president now owns 622 shares in the company, valued at approximately $74,279.24. This represents a 63.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,291 shares of company stock worth $12,078,254. 1.50% of the stock is currently owned by insiders.

The Hartford Financial Services Group Price Performance

HIG opened at $124.82 on Wednesday. The company has a fifty day simple moving average of $123.47 and a 200 day simple moving average of $117.82. The firm has a market cap 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 Hartford Financial Services Group, Inc. has a twelve month low of $98.16 and a twelve month high of $132.09. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.97 billion. During the same period last year, the business earned $2.34 EPS. The business’s revenue was up 6.1% on a year-over-year basis. Equities research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.67%. The Hartford Financial Services Group’s payout ratio is currently 20.74%.

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.