The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by First Financial Bank Trust Division

First Financial Bank Trust Division trimmed its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 12.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 92,905 shares of the insurance provider’s stock after selling 12,892 shares during the period. First Financial Bank Trust Division’s holdings in The Hartford Financial Services Group were worth $9,574,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HIG. General Partner Inc. acquired a new position in The Hartford Financial Services Group during the first quarter worth about $59,000. Nomura Holdings Inc. acquired a new position in The Hartford Financial Services Group during the fourth quarter worth about $486,000. HighPoint Advisor Group LLC acquired a new position in The Hartford Financial Services Group during the fourth quarter worth about $215,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in The Hartford Financial Services Group by 524.7% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 83,000 shares of the insurance provider’s stock worth $6,672,000 after acquiring an additional 69,713 shares during the period. Finally, Richardson Financial Services Inc. acquired a new position in The Hartford Financial Services Group during the fourth quarter worth about $177,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Hartford Financial Services Group

In related news, CFO Beth Ann Costello sold 72,076 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total value of $7,186,697.96. Following the transaction, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Beth Ann Costello sold 72,076 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total value of $7,186,697.96. Following the transaction, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan R. Bennett sold 18,335 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on HIG shares. Evercore ISI lifted their target price on The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. TD Cowen increased their price target on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Argus increased their price target on The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. increased their price target on The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $115.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.24.

The Hartford Financial Services Group Stock Up 1.1 %

Shares of The Hartford Financial Services Group stock traded up $1.16 during trading on Tuesday, hitting $102.40. 260,944 shares of the stock traded hands, compared to its average volume of 1,693,871. The stock has a market cap of $30.29 billion, a P/E ratio of 11.50, a PEG 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, Inc. has a twelve month low of $68.82 and a twelve month high of $103.64. The company has a fifty day moving average price of $99.75 and a two-hundred day moving average price of $93.11.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (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 analyst estimates of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.68 earnings per share. Equities research analysts predict that The Hartford Financial Services Group, Inc. will post 9.94 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.88 annualized dividend and a dividend yield of 1.84%. The Hartford Financial Services Group’s dividend payout ratio is 21.36%.

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.