Trinity Financial Advisors LLC boosted its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 729.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,758 shares of the insurance provider's stock after purchasing an additional 13,858 shares during the quarter. Trinity Financial Advisors LLC's holdings in The Hartford Financial Services Group were worth $1,950,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horizon Advisory Services Inc. purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $277,000. Victory Capital Management Inc. boosted its stake in The Hartford Financial Services Group by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider's stock worth $514,363,000 after buying an additional 202,487 shares during the last quarter. Suncoast Equity Management purchased a new stake in The Hartford Financial Services Group in the 4th quarter valued at $311,000. Empowered Funds LLC increased its stake in shares of The Hartford Financial Services Group by 62.1% in the 4th quarter. Empowered Funds LLC now owns 28,622 shares of the insurance provider's stock worth $3,131,000 after acquiring an additional 10,964 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in shares of The Hartford Financial Services Group by 13.9% during the 4th quarter. M&T Bank Corp now owns 46,868 shares of the insurance provider's stock worth $5,127,000 after acquiring an additional 5,702 shares during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.
Insider Buying and Selling at The Hartford Financial Services Group
In related news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the transaction, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $25,412,161.98. This trade represents a 31.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the senior vice president now owns 622 shares in the company, valued at approximately $74,279.24. This trade represents a 63.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,291 shares of company stock valued at $12,078,254 in the last 90 days. Company insiders own 1.50% of the company's stock.
The Hartford Financial Services Group Trading Down 0.9%
HIG traded down $1.15 during mid-day trading on Friday, hitting $125.11. 861,947 shares of the stock were exchanged, compared to its average volume of 1,580,297. The firm's fifty day moving average is $124.01 and its two-hundred day moving average is $117.90. The Hartford Financial Services Group, Inc. has a 1-year low of $98.16 and a 1-year high of $132.09. The company has a market cap of $35.54 billion, a PE ratio of 12.09, a PEG ratio of 1.12 and a beta of 0.71. The company has a current ratio of 0.32, a quick 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, 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 business had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same quarter in the prior year, the company earned $2.34 earnings per share. The business's quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.66%. The Hartford Financial Services Group's dividend payout ratio (DPR) is presently 20.74%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. UBS Group upped their price objective on shares of The Hartford Financial Services Group from $139.00 to $142.00 and gave the company a "buy" rating in a report on Monday, April 28th. Morgan Stanley raised their price target on shares of The Hartford Financial Services Group from $115.00 to $130.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Wells Fargo & Company reduced their price target on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Raymond James increased their price objective on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Finally, JPMorgan Chase & Co. lifted their target price on 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, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $129.71.
Check Out Our Latest Stock Analysis on The Hartford Financial Services Group
About The Hartford Financial Services Group
(
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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