Advisor Resource Council Trims Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Advisor Resource Council reduced its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 51.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,280 shares of the insurance provider’s stock after selling 8,693 shares during the period. Advisor Resource Council’s holdings in The Hartford Financial Services Group were worth $853,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HIG. GoalVest Advisory LLC lifted its holdings in The Hartford Financial Services Group by 464.8% during the fourth 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 bought a new position in The Hartford Financial Services Group in the 4th quarter worth $26,000. CVA Family Office LLC purchased a new stake in The Hartford Financial Services Group in the 4th quarter worth $27,000. Chilton Capital Management LLC bought a new stake in The Hartford Financial Services Group during the fourth quarter valued at about $28,000. Finally, Cape Investment Advisory Inc. lifted its position in shares of The Hartford Financial Services Group by 189.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 245 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Michael R. Fisher sold 4,088 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total value of $414,809.36. Following the sale, the executive vice president now directly owns 14,818 shares in the company, valued at approximately $1,503,582.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Beth Ann Costello sold 72,076 shares of the business’s 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 transaction, the chief financial officer now owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The disclosure for this sale can be found here. Insiders sold a total of 94,499 shares of company stock valued at $9,449,309 over the last three months. 1.60% of the stock is owned by company insiders.

The Hartford Financial Services Group Trading Down 0.4 %

HIG stock traded down $0.41 during midday trading on Thursday, reaching $99.62. The company’s stock had a trading volume of 1,103,664 shares, compared to its average volume of 1,377,208. The Hartford Financial Services Group, Inc. has a 1 year low of $68.82 and a 1 year high of $105.20. The firm has a market capitalization of $29.46 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 0.83 and a beta of 0.93. The stock has a fifty day simple moving average of $100.65 and a two-hundred day simple moving average of $94.91. 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:HIG) last released its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.09). The company had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The Hartford Financial Services Group’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $1.68 earnings per share. On average, equities research analysts predict that The Hartford Financial Services Group, Inc. will post 9.91 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Monday, June 3rd were issued a $0.47 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.88 annualized dividend and a dividend yield of 1.89%. The Hartford Financial Services Group’s payout ratio is currently 21.36%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company cut their target price on The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. TD Cowen upped their target price on shares of The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Piper Sandler reiterated an “overweight” rating and issued a $115.00 price target on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Morgan Stanley reduced their target price on The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $105.00 price target on shares of The Hartford Financial Services Group in a report on Friday, June 28th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.71.

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.