The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 584,242 shares of the insurance provider’s stock after selling 59,267 shares during the period. Raymond James & Associates’ holdings in The Hartford Financial Services Group were worth $60,206,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. GoalVest Advisory LLC raised its position in The Hartford Financial Services Group by 464.8% during the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 251 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in The Hartford Financial Services Group in the 4th quarter valued at about $26,000. CVA Family Office LLC acquired a new stake in The Hartford Financial Services Group in the 4th quarter worth about $27,000. Chilton Capital Management LLC purchased a new stake in The Hartford Financial Services Group during the 4th quarter worth approximately $28,000. Finally, Selway Asset Management acquired a new position in shares of The Hartford Financial Services Group during the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Transactions at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of The Hartford Financial Services Group stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the transaction, the executive vice president now directly owns 18,906 shares of the company’s stock, valued at approximately $1,869,803.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the transaction, the executive vice president now owns 18,906 shares of the company’s stock, valued at approximately $1,869,803.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Allison G. Niderno sold 1,332 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total value of $119,533.68. Following the sale, the senior vice president now directly owns 630 shares in the company, valued at approximately $56,536.20. The disclosure for this sale can be found here. Insiders sold a total of 106,501 shares of company stock worth $10,141,126 over the last ninety days. Company insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.4 %

HIG traded up $0.41 on Friday, hitting $97.90. The company had a trading volume of 1,358,945 shares, compared to its average volume of 1,787,088. The company’s fifty day moving average price is $98.81 and its 200 day moving average price is $87.14. The Hartford Financial Services Group, Inc. has a 1 year low of $67.05 and a 1 year high of $103.64. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29. The firm has a market cap of $28.95 billion, a P/E ratio of 11.13, a PEG ratio of 1.39 and a beta of 0.90.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The company had revenue of $6.42 billion during the quarter, compared to analysts’ expectations 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 Hartford Financial Services Group’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $1.68 earnings per share. As a group, equities analysts expect that The Hartford Financial Services Group, Inc. will post 10.03 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

Wall Street Analysts Forecast Growth

HIG has been the subject of several research reports. Morgan Stanley dropped their price target on The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company dropped their target price on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating for the company in a report on Monday, April 29th. The Goldman Sachs Group raised their price target on shares of The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Royal Bank of Canada upped their price objective on shares of The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a “sector perform” rating in a research note on Monday, February 5th. Finally, Roth Mkm raised their target price on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $105.44.

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.