Advisor Resource Council Has $853,000 Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Advisor Resource Council cut its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 51.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,280 shares of the insurance provider’s stock after selling 8,693 shares during the period. Advisor Resource Council’s holdings in The Hartford Financial Services Group were worth $853,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of The Hartford Financial Services Group in the 4th quarter valued at about $278,704,000. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of The Hartford Financial Services Group by 26.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock valued at $491,915,000 after purchasing an additional 1,272,290 shares during the last quarter. Nordea Investment Management AB lifted its position in The Hartford Financial Services Group by 20.2% during the 4th quarter. Nordea Investment Management AB now owns 2,958,172 shares of the insurance provider’s stock worth $237,600,000 after buying an additional 497,916 shares in the last quarter. KBC Group NV raised its holdings in The Hartford Financial Services Group by 85.5% during the fourth quarter. KBC Group NV now owns 1,074,470 shares of the insurance provider’s stock worth $86,366,000 after acquiring an additional 495,192 shares in the last quarter. Finally, Bank of Nova Scotia raised its stake in shares of The Hartford Financial Services Group by 793.3% during the 4th quarter. Bank of Nova Scotia now owns 325,412 shares of the insurance provider’s stock worth $26,156,000 after purchasing an additional 288,984 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total value of $414,809.36. Following the completion of the sale, the executive vice president now owns 14,818 shares in the company, valued at approximately $1,503,582.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Michael R. Fisher sold 4,088 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction of $414,809.36. Following the completion of the sale, the executive vice president now directly owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Beth Ann Costello sold 72,076 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the completion of the transaction, the chief financial officer now directly 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 ninety days, insiders have sold 94,499 shares of company stock worth $9,449,309. 1.60% of the stock is owned by insiders.

The Hartford Financial Services Group Stock Down 0.4 %

HIG traded down $0.41 during midday trading on Thursday, reaching $99.62. 1,103,664 shares of the company were exchanged, compared to its average volume of 1,377,208. The company has a market cap of $29.46 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a one year low of $68.82 and a one year high of $105.20. The company’s fifty day moving average price is $100.65 and its 200 day moving average price is $94.91. 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 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 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 for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter last year, the company posted $1.68 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts expect that The Hartford Financial Services Group, Inc. will post 9.91 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of 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. The Goldman Sachs Group raised their price objective on The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Keefe, Bruyette & Woods lifted their price objective on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company decreased their target price 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. Finally, Roth Mkm lifted their target price on The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $106.71.

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.