Carret Asset Management LLC Cuts Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Carret Asset Management LLC cut its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 65,814 shares of the insurance provider’s stock after selling 810 shares during the period. Carret Asset Management LLC’s holdings in The Hartford Financial Services Group were worth $6,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HIG. GoalVest Advisory LLC lifted its stake in The Hartford Financial Services Group by 464.8% during the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 251 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in The Hartford Financial Services Group in the 4th quarter worth approximately $26,000. CVA Family Office LLC purchased a new stake in The Hartford Financial Services Group during the 4th quarter valued at $27,000. Chilton Capital Management LLC bought a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at $28,000. Finally, Cape Investment Advisory Inc. boosted its stake in shares of The Hartford Financial Services Group by 189.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock worth $30,000 after buying an additional 245 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

In other news, CFO Beth Ann Costello sold 72,076 shares of The Hartford Financial Services Group stock in a transaction on 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 sale, the chief financial officer now directly owns 69,169 shares in the company, valued at $6,896,840.99. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Michael R. Fisher sold 4,088 shares of the 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 transaction, the executive vice president now owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Beth Ann Costello sold 72,076 shares of The Hartford Financial Services Group 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 completion of the sale, the chief financial officer now 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 three months, insiders sold 94,499 shares of company stock valued at $9,449,309. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.4 %

Shares of NYSE HIG traded down $0.41 during trading hours on Wednesday, hitting $99.62. 1,103,534 shares of the company traded hands, compared to its average volume of 1,696,568. The stock has a market capitalization of $29.46 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93. The company’s 50 day moving average price is $100.65 and its 200 day moving average price is $94.91. The Hartford Financial Services Group, Inc. has a 12 month low of $68.82 and a 12 month high of $105.20. 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 Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the prior year, the company posted $1.68 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. On average, equities research 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 Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on HIG. Keefe, Bruyette & Woods increased their target price on The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Raymond James restated an “outperform” rating and set a $120.00 target price (up from $100.00) on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Morgan Stanley decreased their price target on shares of The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Evercore ISI boosted their price objective on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, TD Cowen raised their target price on The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price 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.