The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC lowered its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.2% during the first quarter, Holdings Channel reports. The fund owned 65,814 shares of the insurance provider’s stock after selling 810 shares during the quarter. Carret Asset Management LLC’s holdings in The Hartford Financial Services Group were worth $6,782,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GoalVest Advisory LLC grew its holdings in The Hartford Financial Services Group by 464.8% in the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after buying an additional 251 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in The Hartford Financial Services Group during the 4th quarter worth $26,000. CVA Family Office LLC acquired a new stake in shares of The Hartford Financial Services Group in the 4th quarter valued at about $27,000. Chilton Capital Management LLC acquired a new position in The Hartford Financial Services Group in the fourth quarter worth about $28,000. Finally, Cape Investment Advisory Inc. raised its stake in The Hartford Financial Services Group by 189.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock valued at $30,000 after buying an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG traded down $0.41 during midday trading on Wednesday, reaching $99.62. 1,103,534 shares of the company traded hands, compared to its average volume of 1,696,568. The stock has a 50-day moving average price of $100.65 and a 200 day moving average price of $94.91. The company has a market cap of $29.46 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 0.83 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Financial Services Group, Inc. has a 52 week low of $68.82 and a 52 week high of $105.20.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the prior year, the company posted $1.68 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 9.91 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Monday, June 3rd were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Monday, June 3rd. The Hartford Financial Services Group’s payout ratio is currently 21.36%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their price target on The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Argus lifted their price target on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. TD Cowen increased their price objective on shares of The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their target price on The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Roth Mkm increased their price target on The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.71.

Insider Activity

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 69,169 shares in the company, valued at $6,896,840.99. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the executive vice president now directly owns 25,643 shares in the company, valued at approximately $2,584,301.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Beth Ann Costello sold 72,076 shares of the company’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 sale, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,499 shares of company stock worth $9,449,309. 1.60% of the stock is owned by company insiders.

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.