The Hartford Financial Services Group, Inc. (NYSE:HIG) Position Trimmed by GSB Wealth Management LLC

GSB Wealth Management LLC trimmed its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,627 shares of the insurance provider’s stock after selling 150 shares during the period. GSB Wealth Management LLC’s holdings in The Hartford Financial Services Group were worth $253,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC raised its holdings in The Hartford Financial Services Group by 8.4% in the 4th quarter. Penserra Capital Management LLC now owns 1,715 shares of the insurance provider’s stock worth $129,000 after acquiring an additional 133 shares during the period. ETF Managers Group LLC grew its position in The Hartford Financial Services Group by 1.5% in the 1st quarter. ETF Managers Group LLC now owns 10,170 shares of the insurance provider’s stock worth $709,000 after purchasing an additional 151 shares during the last quarter. Measured Wealth Private Client Group LLC grew its position in The Hartford Financial Services Group by 3.3% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 4,845 shares of the insurance provider’s stock worth $338,000 after purchasing an additional 155 shares during the last quarter. Toroso Investments LLC grew its position in The Hartford Financial Services Group by 3.8% in the 1st quarter. Toroso Investments LLC now owns 4,293 shares of the insurance provider’s stock worth $308,000 after purchasing an additional 159 shares during the last quarter. Finally, Spire Wealth Management grew its position in The Hartford Financial Services Group by 8.5% in the 1st quarter. Spire Wealth Management now owns 2,049 shares of the insurance provider’s stock worth $143,000 after purchasing an additional 161 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP Stephanie C. Bush sold 3,500 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $72.40, for a total value of $253,400.00. Following the completion of the transaction, the executive vice president now directly owns 15,063 shares of the company’s stock, valued at $1,090,561.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 4,508 shares of company stock valued at $326,053. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HIG. Royal Bank of Canada restated a “sector perform” rating and issued a $77.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, July 31st. Citigroup decreased their price target on shares of The Hartford Financial Services Group from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Barclays decreased their target price on shares of The Hartford Financial Services Group from $87.00 to $83.00 in a research report on Friday, July 28th. Piper Sandler decreased their target price on shares of The Hartford Financial Services Group from $94.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday, July 31st. Finally, Morgan Stanley started coverage on shares of The Hartford Financial Services Group in a research report on Tuesday, June 20th. They set an “equal weight” rating and a $71.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $85.46.

The Hartford Financial Services Group Price Performance

NYSE:HIG opened at $72.19 on Thursday. The firm has a market cap of $22.08 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.31 and a beta of 0.86. The Hartford Financial Services Group, Inc. has a 12 month low of $60.17 and a 12 month high of $79.44. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $72.54 and its two-hundred day moving average price is $71.17.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly 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 analyst estimates of $4.09 billion. The Hartford Financial Services Group had a net margin of 8.53% and a return on equity of 17.54%. On average, 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 paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, August 31st. The Hartford Financial Services Group’s dividend payout ratio is presently 27.33%.

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.