The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Harvest Investment Advisors LLC

Harvest Investment Advisors LLC trimmed its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,432 shares of the insurance provider’s stock after selling 167 shares during the period. The Hartford Financial Services Group accounts for approximately 1.6% of Harvest Investment Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Harvest Investment Advisors LLC’s holdings in The Hartford Financial Services Group were worth $1,964,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HIG. McGlone Suttner Wealth Management Inc. boosted its stake in shares of The Hartford Financial Services Group by 11.7% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock worth $254,000 after acquiring an additional 331 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of The Hartford Financial Services Group during the 4th quarter worth about $2,875,000. Stifel Financial Corp boosted its stake in shares of The Hartford Financial Services Group by 14.2% during the 4th quarter. Stifel Financial Corp now owns 261,995 shares of the insurance provider’s stock worth $21,059,000 after acquiring an additional 32,534 shares in the last quarter. New Millennium Group LLC purchased a new stake in shares of The Hartford Financial Services Group during the 4th quarter worth about $1,552,000. Finally, SteelPeak Wealth LLC purchased a new stake in shares of The Hartford Financial Services Group during the 4th quarter worth about $1,691,000. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Trading Up 1.1 %

Shares of HIG traded up $1.09 during midday trading on Friday, hitting $100.85. 877,460 shares of the stock were exchanged, compared to its average volume of 1,438,613. The Hartford Financial Services Group, Inc. has a 52-week low of $68.82 and a 52-week high of $103.64. The stock has a fifty day simple moving average of $100.03 and a 200 day simple moving average of $91.97. The firm has a market cap of $29.83 billion, a P/E ratio of 11.46, a P/E/G ratio of 0.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.09). The firm had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.51 billion. The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.68 earnings per share. On average, research analysts anticipate that The Hartford Financial Services Group, Inc. will post 9.94 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 3rd will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 1.86%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Jonathan R. Bennett sold 18,335 shares of The Hartford Financial Services Group stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total value of $1,847,801.30. Following the completion of the transaction, the executive vice president now directly owns 25,643 shares in the company, valued at $2,584,301.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other The Hartford Financial Services Group news, EVP Jonathan R. Bennett sold 18,335 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total value of $1,847,801.30. Following the sale, the executive vice president now directly owns 25,643 shares in the company, valued at $2,584,301.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Beth Ann Costello sold 72,076 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total value of $7,186,697.96. Following the completion of the sale, the chief financial officer now owns 69,169 shares in the company, valued at $6,896,840.99. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,415 shares of company stock worth $11,705,195. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup increased their target price on shares of The Hartford Financial Services Group from $113.00 to $116.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Morgan Stanley reduced their target price on The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. TD Cowen increased their target price on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Piper Sandler reissued 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. Finally, JPMorgan Chase & Co. increased their target price on The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.88.

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.