Guggenheim Capital LLC Trims Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Guggenheim Capital LLC reduced its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 8.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 37,902 shares of the insurance provider’s stock after selling 3,625 shares during the period. Guggenheim Capital LLC’s holdings in The Hartford Financial Services Group were worth $2,641,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its stake in The Hartford Financial Services Group by 7.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,704 shares of the insurance provider’s stock valued at $1,271,000 after acquiring an additional 1,185 shares during the last quarter. D.A. Davidson & CO. raised its stake in The Hartford Financial Services Group by 9.1% during the 1st quarter. D.A. Davidson & CO. now owns 3,952 shares of the insurance provider’s stock valued at $284,000 after acquiring an additional 330 shares during the last quarter. Prudential PLC purchased a new stake in The Hartford Financial Services Group during the 1st quarter valued at approximately $674,000. Cetera Investment Advisers raised its stake in The Hartford Financial Services Group by 88.6% during the 1st quarter. Cetera Investment Advisers now owns 11,238 shares of the insurance provider’s stock valued at $807,000 after acquiring an additional 5,278 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its stake in The Hartford Financial Services Group by 235.4% during the 1st quarter. Zions Bancorporation N.A. now owns 1,070 shares of the insurance provider’s stock valued at $77,000 after acquiring an additional 751 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Stephanie C. Bush sold 3,500 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $72.40, for a total transaction of $253,400.00. Following the sale, the executive vice president now owns 15,063 shares in the company, valued at approximately $1,090,561.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 4,172 shares of company stock worth $302,012. 2.00% of the stock is owned by insiders.

The Hartford Financial Services Group Stock Performance

HIG opened at $72.32 on Wednesday. The stock has a market cap of $22.12 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.31 and a beta of 0.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.31 and a quick ratio of 0.31. The stock’s 50 day simple moving average is $72.38 and its 200 day simple moving average is $71.58. The Hartford Financial Services Group, Inc. has a 1-year low of $60.17 and a 1-year high of $79.44.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, July 27th. The insurance provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.09 billion. The Hartford Financial Services Group had a return on equity of 17.54% and a net margin of 8.53%. As a group, equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 7.8 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 1st will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Thursday, August 31st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 27.33%.

Analyst Upgrades and Downgrades

Several research firms have commented on HIG. StockNews.com began coverage on The Hartford Financial Services Group in a research note on Thursday, August 17th. They set a “buy” rating for the company. JPMorgan Chase & Co. increased their target price on The Hartford Financial Services Group from $86.00 to $94.00 in a research note on Thursday, July 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $77.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, July 31st. Piper Sandler cut their target price on The Hartford Financial Services Group from $94.00 to $93.00 and set an “overweight” rating for the company in a research note on Monday, July 31st. Finally, Barclays cut their target price on The Hartford Financial Services Group from $87.00 to $83.00 in a research note on Friday, July 28th. Five analysts have rated the stock with a hold rating and eight 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 $85.46.

About The Hartford Financial Services Group

The Hartford Financial Services Group, Inc 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, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.