Gulf International Bank UK Ltd Sells 10,185 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Posted by on Jun 24th, 2023

Gulf International Bank UK Ltd lowered its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) by 19.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 41,870 shares of the insurance provider’s stock after selling 10,185 shares during the quarter. Gulf International Bank UK Ltd’s holdings in The Hartford Financial Services Group were worth $2,917,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of HIG. Dark Forest Capital Management LP bought a new position in The Hartford Financial Services Group in the 4th quarter valued at $29,000. Heritage Wealth Management LLC grew its position in The Hartford Financial Services Group by 114.5% in the 4th quarter. Heritage Wealth Management LLC now owns 680 shares of the insurance provider’s stock valued at $52,000 after acquiring an additional 363 shares during the last quarter. Accurate Wealth Management LLC bought a new position in The Hartford Financial Services Group in the 4th quarter valued at $54,000. ST Germain D J Co. Inc. bought a new position in The Hartford Financial Services Group in the 4th quarter valued at $54,000. Finally, Armstrong Advisory Group Inc. bought a new position in The Hartford Financial Services Group in the 4th quarter valued at $60,000. Institutional investors own 90.24% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.5 %

Shares of NYSE HIG opened at $70.48 on Friday. The business has a fifty day moving average price of $70.20 and a 200 day moving average price of $72.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group, Inc. has a 1-year low of $60.17 and a 1-year high of $79.44. The stock has a market capitalization of $21.87 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 1.30 and a beta of 0.86.

The Hartford Financial Services Group (NYSE:HIG – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The insurance provider reported $1.68 EPS for the quarter, meeting analysts’ consensus estimates of $1.68. The Hartford Financial Services Group had a return on equity of 18.45% and a net margin of 8.33%. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period last year, the business posted $1.66 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts expect that The Hartford Financial Services Group, Inc. will post 7.91 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Thursday, June 1st will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, May 31st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 29.26%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on The Hartford Financial Services Group from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, March 31st. StockNews.com began coverage on The Hartford Financial Services Group in a research report on Thursday, May 18th. They set a “buy” rating on the stock. The Goldman Sachs Group raised The Hartford Financial Services Group from a “neutral” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Wednesday, March 29th. Credit Suisse Group reissued an “outperform” rating and set a $104.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, April 17th. Finally, Citigroup dropped their price target on The Hartford Financial Services Group from $92.00 to $85.00 in a research report on Tuesday, April 18th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $85.46.

The Hartford Financial Services Group Company Profile

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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.

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

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