Park Avenue Securities LLC cut its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,629 shares of the insurance provider’s stock after selling 813 shares during the quarter. Park Avenue Securities LLC’s holdings in The Hartford Financial Services Group were worth $2,853,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Gradient Investments LLC bought a new position in shares of The Hartford Financial Services Group during the third quarter worth approximately $27,000. Janiczek Wealth Management LLC increased its holdings in shares of The Hartford Financial Services Group by 38.4% during the third quarter. Janiczek Wealth Management LLC now owns 588 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 163 shares during the period. Larson Financial Group LLC bought a new position in shares of The Hartford Financial Services Group during the third quarter worth approximately $50,000. Accurate Wealth Management LLC bought a new position in shares of The Hartford Financial Services Group during the fourth quarter worth approximately $54,000. Finally, Armstrong Advisory Group Inc. bought a new position in shares of The Hartford Financial Services Group during the fourth quarter worth approximately $60,000. 89.93% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have recently commented on HIG shares. Roth Capital reaffirmed a “neutral” rating on shares of The Hartford Financial Services Group in a report on Friday, February 3rd. Piper Sandler lifted their price objective on shares of The Hartford Financial Services Group from $83.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, February 6th. Citigroup lifted their price objective on shares of The Hartford Financial Services Group from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. BMO Capital Markets started coverage on shares of The Hartford Financial Services Group in a research note on Thursday, January 19th. They issued a “market perform” rating and a $77.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of The Hartford Financial Services Group from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, January 18th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.08.
The Hartford Financial Services Group Stock Performance
The Hartford Financial Services Group (NYSE:HIG – Get Rating) last issued its quarterly earnings results on Friday, February 3rd. The insurance provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.45. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.74 billion. The Hartford Financial Services Group had a net margin of 8.12% and a return on equity of 18.15%. The Hartford Financial Services Group’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.02 earnings per share. On average, equities analysts expect that The Hartford Financial Services Group, Inc. will post 8.24 EPS for the current fiscal year.
The Hartford Financial Services Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 4th. Stockholders of record on Monday, March 6th will be issued a dividend of $0.425 per share. The ex-dividend date is Friday, March 3rd. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.44%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 31.19%.
Insider Transactions at The Hartford Financial Services Group
In other news, EVP Michael R. Fisher sold 4,916 shares of The Hartford Financial Services Group stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $75.69, for a total transaction of $372,092.04. Following the transaction, the executive vice president now owns 5,287 shares in the company, valued at $400,173.03. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Amy Stepnowski sold 336 shares of the business’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $77.59, for a total value of $26,070.24. Following the transaction, the executive vice president now owns 3,844 shares in the company, valued at $298,255.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael R. Fisher sold 4,916 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $75.69, for a total transaction of $372,092.04. Following the completion of the transaction, the executive vice president now owns 5,287 shares in the company, valued at approximately $400,173.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,167 shares of company stock worth $7,872,898. Company insiders own 1.80% of the company’s stock.
About The Hartford Financial Services Group
The Hartford Financial Services Group, Inc is an insurance and financial services company. It operates through the following segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Hartford Funds, and Corporate. The Commercial Lines segment provides workers’ compensation, property, automobile, liability and umbrella coverage under several different products.
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