The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC decreased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,778 shares of the insurance provider’s stock after selling 141 shares during the quarter. NewEdge Wealth LLC’s holdings in The Hartford Financial Services Group were worth $625,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HIG. GoalVest Advisory LLC raised its position in shares of The Hartford Financial Services Group by 464.8% in the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 251 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth approximately $26,000. CVA Family Office LLC bought a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $27,000. Chilton Capital Management LLC acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at $28,000. Finally, Selway Asset Management bought a new position in The Hartford Financial Services Group during the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HIG shares. Roth Mkm upped their target price on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. The Goldman Sachs Group increased their target price on The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada boosted their price target on The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a “sector perform” rating in a report on Monday, February 5th. Citigroup raised their price objective on The Hartford Financial Services Group from $109.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, UBS Group boosted their target price on shares of The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.47.

Insiders Place Their Bets

In other news, EVP Robert W. Paiano sold 14,528 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total value of $1,365,196.16. Following the completion of the transaction, the executive vice president now directly owns 46,792 shares in the company, valued at $4,397,044.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Robert W. Paiano sold 14,528 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total transaction of $1,365,196.16. Following the completion of the transaction, the executive vice president now owns 46,792 shares of the company’s stock, valued at $4,397,044.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the completion of the sale, the executive vice president now owns 18,906 shares in the company, valued at $1,869,803.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,082 shares of company stock worth $22,404,321. 1.60% of the stock is owned by corporate insiders.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $97.73 on Wednesday. The Hartford Financial Services Group, Inc. has a 12-month low of $67.05 and a 12-month high of $103.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $29.06 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89. The business has a 50 day simple moving average of $97.37 and a 200 day simple moving average of $84.90.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.62. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The company had revenue of $6.40 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.12 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 annualized dividend and a yield of 1.92%. The Hartford Financial Services Group’s payout ratio is 23.53%.

The Hartford Financial Services Group Company 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.