Yousif Capital Management LLC Sells 7,384 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Yousif Capital Management LLC cut its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 15.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,436 shares of the insurance provider's stock after selling 7,384 shares during the period. Yousif Capital Management LLC's holdings in The Hartford Financial Services Group were worth $4,879,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in The Hartford Financial Services Group by 59.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,026 shares of the insurance provider's stock worth $625,000 after purchasing an additional 1,877 shares during the last quarter. Daymark Wealth Partners LLC acquired a new stake in shares of The Hartford Financial Services Group in the 1st quarter valued at $202,000. First Citizens Bank & Trust Co. raised its position in shares of The Hartford Financial Services Group by 4.0% during the first quarter. First Citizens Bank & Trust Co. now owns 37,113 shares of the insurance provider's stock worth $4,592,000 after acquiring an additional 1,426 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of The Hartford Financial Services Group by 5.8% during the first quarter. Park Avenue Securities LLC now owns 21,090 shares of the insurance provider's stock worth $2,609,000 after acquiring an additional 1,162 shares during the last quarter. Finally, City Center Advisors LLC bought a new position in The Hartford Financial Services Group in the first quarter valued at about $260,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Allison G. Niderno sold 1,086 shares of The Hartford Financial Services Group stock in a transaction 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 owns 622 shares of the company's stock, valued at $74,279.24. The trade was a 63.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,291 shares of company stock valued at $12,078,254 over the last three months. 1.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen raised The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Morgan Stanley boosted their price objective on The Hartford Financial Services Group from $115.00 to $130.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Jefferies Financial Group dropped their target price 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. UBS Group upped 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. Finally, Piper Sandler raised 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 report on Tuesday, April 1st. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $129.71.

The Hartford Financial Services Group Price Performance

NYSE:HIG traded down $1.05 during mid-day trading on Friday, hitting $125.21. 400,975 shares of the stock traded hands, compared to its average volume of 1,578,528. The business's 50-day moving average price is $124.01 and its 200 day moving average price is $117.90. 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 company has a market cap of $35.57 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.12 and a beta of 0.71. The Hartford Financial Services Group, Inc. has a 12-month low of $98.16 and a 12-month high of $132.09.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $6.97 billion. During the same period in the previous year, the business posted $2.34 earnings per share. The Hartford Financial Services Group's revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Monday, June 2nd. The Hartford Financial Services Group's dividend payout ratio is 20.74%.

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.