MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,748 shares of the insurance provider's stock after selling 2,984 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in The Hartford Financial Services Group were worth $2,567,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $33,000. Itau Unibanco Holding S.A. purchased a new position in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $35,000. DT Investment Partners LLC boosted its position in shares of The Hartford Financial Services Group by 49.8% during the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock worth $36,000 after purchasing an additional 110 shares during the period. Flagship Wealth Advisors LLC purchased a new position in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $36,000. Finally, Key Financial Inc boosted its position in shares of The Hartford Financial Services Group by 526.3% during the 4th quarter. Key Financial Inc now owns 357 shares of the insurance provider's stock worth $39,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.
Insider Transactions at The Hartford Financial Services Group
In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the transaction, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $25,412,161.98. This represents a 31.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Allison G. Niderno sold 1,086 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the completion of the sale, the senior vice president now owns 622 shares in the company, valued at $74,279.24. This represents a 63.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,291 shares of company stock worth $12,078,254 over the last ninety days. 1.50% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on HIG. Piper Sandler increased their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Keefe, Bruyette & Woods decreased their price target on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Barclays raised their price target on shares of The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Wall Street Zen raised shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a "neutral" rating in a research report on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $131.15.
View Our Latest Research Report on The Hartford Financial Services Group
The Hartford Financial Services Group Price Performance
Shares of NYSE:HIG opened at $125.11 on Friday. The company's fifty day moving average price is $124.32 and its 200 day moving average price is $117.88. The Hartford Financial Services Group, Inc. has a 12 month low of $98.16 and a 12 month high of $132.09. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $35.54 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.12 and a beta of 0.71.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period last year, the business earned $2.34 EPS. The Hartford Financial Services Group's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.
The Hartford Financial Services Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Monday, June 2nd. The Hartford Financial Services Group's payout ratio is currently 20.74%.
The Hartford Financial Services Group Company Profile
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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.
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