Wedge Capital Management L L P NC Reduces Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Wedge Capital Management L L P NC lessened its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 10.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 289,548 shares of the insurance provider's stock after selling 33,972 shares during the period. Wedge Capital Management L L P NC owned about 0.10% of The Hartford Financial Services Group worth $35,826,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HIG. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at $33,000. Itau Unibanco Holding S.A. purchased a new position in The Hartford Financial Services Group during the 4th quarter valued at about $35,000. DT Investment Partners LLC increased its holdings in shares of The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 110 shares during the period. Flagship Wealth Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth approximately $36,000. Finally, Key Financial Inc boosted its holdings in shares of The Hartford Financial Services Group by 526.3% during the fourth 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. 93.42% of the stock is owned by institutional investors.

Insider Activity

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the transaction, the executive vice president now directly owns 31,678 shares of the company's stock, valued at $3,712,661.60. This trade represents a 29.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Allison G. Niderno sold 1,086 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the transaction, the senior vice president now directly owns 622 shares in the company, valued at approximately $74,279.24. This represents a 63.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,429 shares of company stock worth $13,618,028 over the last 90 days. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

HIG has been the topic of several recent research reports. Jefferies Financial Group cut their price objective on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. UBS Group raised their price target 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. Wells Fargo & Company lowered their target price 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. Piper Sandler boosted their price target on 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. upped their price target on The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a research note 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 stock. According to data from MarketBeat.com, The Hartford Financial Services Group has an average rating of "Moderate Buy" and an average price target of $129.71.

The Hartford Financial Services Group Price Performance

NYSE:HIG traded down $2.40 during midday trading on Monday, hitting $126.93. The company had a trading volume of 1,167,690 shares, compared to its average volume of 1,583,957. The company has a market capitalization of $36.06 billion, a PE ratio of 12.26, a P/E/G ratio of 1.12 and a beta of 0.71. The stock's fifty day moving average price is $123.40 and its 200-day moving average price is $117.73. 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, Inc. has a 52-week low of $98.16 and a 52-week high of $132.09.

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

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors 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 1.64%. The ex-dividend date of this dividend is Monday, June 2nd. The Hartford Financial Services Group's dividend payout ratio (DPR) is 20.74%.

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.