The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC trimmed its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 43.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,723 shares of the insurance provider’s stock after selling 1,300 shares during the period. Wealthcare Advisory Partners LLC’s holdings in The Hartford Financial Services Group were worth $213,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of The Hartford Financial Services Group by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 7,251,389 shares of the insurance provider’s stock worth $792,796,000 after purchasing an additional 81,495 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of The Hartford Financial Services Group by 4.5% during the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock worth $514,363,000 after purchasing an additional 202,487 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of The Hartford Financial Services Group by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider’s stock worth $419,053,000 after purchasing an additional 234,320 shares in the last quarter. Norges Bank acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at about $416,340,000. Finally, Northern Trust Corp increased its holdings in shares of The Hartford Financial Services Group by 17.2% during the 4th quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider’s stock valued at $387,021,000 after acquiring an additional 519,717 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on HIG. Jefferies Financial Group lowered their target price on The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Raymond James raised their target price on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Barclays lifted their price target on The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Keefe, Bruyette & Woods dropped their target price on The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Wall Street Zen upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.15.

Insiders Place Their Bets

In other news, SVP Allison G. Niderno sold 1,086 shares of The Hartford Financial Services Group stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $74,279.24. The trade was a 63.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the transaction, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $25,412,161.98. The trade was a 31.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,291 shares of company stock valued at $12,078,254 over the last 90 days. Insiders own 1.50% of the company’s stock.

The Hartford Financial Services Group Price Performance

NYSE HIG opened at $125.11 on Friday. The Hartford Financial Services Group, Inc. has a 1-year low of $98.16 and a 1-year high of $132.09. The business’s fifty day moving average price is $124.32 and its 200-day moving average price is $117.88. The stock has a market capitalization of $35.54 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.12 and a beta of 0.71. 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 Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.05. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.97 billion. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The Hartford Financial Services Group’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.34 EPS. On average, equities analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.66%. The ex-dividend date is Monday, June 2nd. The Hartford Financial Services Group’s payout ratio is currently 20.74%.

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.