Connecticut Wealth Management LLC Reduces Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Connecticut Wealth Management LLC cut its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 17.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,655 shares of the insurance provider's stock after selling 2,090 shares during the period. Connecticut Wealth Management LLC's holdings in The Hartford Financial Services Group were worth $1,056,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barrett & Company Inc. increased its holdings in The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after buying an additional 93 shares during the last quarter. Spurstone Advisory Services LLC acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at about $33,000. Itau Unibanco Holding S.A. purchased a new position in The Hartford Financial Services Group in the fourth quarter valued at about $35,000. DT Investment Partners LLC increased its stake 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 in the last quarter. Finally, Flagship Wealth Advisors LLC purchased a new position in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of research analyst reports. Jefferies Financial Group decreased their price target on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Wall Street Zen raised shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. UBS Group increased their price target on shares of The Hartford Financial Services Group from $139.00 to $142.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Piper Sandler raised their price target 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. Finally, JPMorgan Chase & Co. lifted 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 report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $129.71.

The Hartford Financial Services Group Stock Up 1.1%

NYSE HIG traded up $1.48 on Tuesday, reaching $130.40. The company had a trading volume of 702,270 shares, compared to its average volume of 1,683,202. The Hartford Financial Services Group, Inc. has a 52-week low of $98.16 and a 52-week high of $132.09. The stock has a market capitalization of $37.05 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.12 and a beta of 0.70. The company's fifty day moving average is $122.03 and its 200 day moving average is $116.99. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.05. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.97 billion. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $2.34 EPS. Sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.60%. The Hartford Financial Services Group's dividend payout ratio (DPR) is presently 20.74%.

Insider Activity

In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,086 shares of the company's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $119.42, for a total value 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Christopher Swift sold 1,144 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total value of $143,000.00. Following the sale, the chief executive officer now owns 211,082 shares of the company's stock, valued at $26,385,250. This represents a 0.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,429 shares of company stock valued at $13,618,028. Company insiders own 1.50% of the company's stock.

About The Hartford Financial Services Group

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.