CIBC Asset Management Inc Sells 2,708 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

CIBC Asset Management Inc reduced its position in The Hartford Financial Services Group, Inc. (NYSE:HIGFree Report) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,197 shares of the insurance provider’s stock after selling 2,708 shares during the quarter. CIBC Asset Management Inc’s holdings in The Hartford Financial Services Group were worth $3,472,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. McGlone Suttner Wealth Management Inc. boosted its position in shares of The Hartford Financial Services Group by 11.7% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock valued at $254,000 after acquiring an additional 331 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter valued at approximately $2,875,000. Stifel Financial Corp raised its holdings in shares of The Hartford Financial Services Group by 14.2% in the 4th quarter. Stifel Financial Corp now owns 261,995 shares of the insurance provider’s stock worth $21,059,000 after buying an additional 32,534 shares in the last quarter. New Millennium Group LLC bought a new position in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $1,552,000. Finally, SteelPeak Wealth LLC acquired a new stake in The Hartford Financial Services Group in the 4th quarter valued at $1,691,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Raymond James reiterated an “outperform” rating and set a $120.00 price objective (up from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Morgan Stanley reduced 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. Wells Fargo & Company dropped their price objective 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. Argus boosted their target price on The Hartford Financial Services Group from $104.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, Keefe, Bruyette & Woods raised their price target 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. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $105.88.

Read Our Latest Stock Report on The Hartford Financial Services Group

Insider Buying and Selling at The Hartford Financial Services Group

In other news, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $6,896,840.99. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael R. Fisher sold 27,004 shares of The Hartford Financial Services Group stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the completion of the transaction, the executive vice president now directly owns 18,906 shares in the company, valued at approximately $1,869,803.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,415 shares of company stock valued at $11,705,195. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

HIG opened at $99.76 on Friday. The company has a fifty day moving average price of $100.08 and a two-hundred day moving average price of $91.80. The firm has a market capitalization of $29.51 billion, a PE ratio of 11.34, a P/E/G ratio of 0.83 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a 52 week low of $68.82 and a 52 week high of $103.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Financial Services Group (NYSE:HIGGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same period last year, the firm earned $1.68 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts anticipate that The Hartford Financial Services Group, Inc. will post 9.94 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 3rd will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Monday, June 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

The Hartford Financial Services Group Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for The Hartford Financial Services Group (NYSE:HIG)

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