Sequoia Financial Advisors LLC reduced its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG – Free Report) by 49.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,379 shares of the insurance provider’s stock after selling 5,344 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in The Hartford Financial Services Group were worth $554,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC grew its stake in shares of The Hartford Financial Services Group by 26.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock valued at $491,915,000 after purchasing an additional 1,272,290 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of The Hartford Financial Services Group by 2.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,247,966 shares of the insurance provider’s stock valued at $421,832,000 after purchasing an additional 105,799 shares during the last quarter. LSV Asset Management grew its stake in shares of The Hartford Financial Services Group by 3.5% during the fourth quarter. LSV Asset Management now owns 4,821,885 shares of the insurance provider’s stock valued at $387,583,000 after purchasing an additional 165,190 shares during the last quarter. Norges Bank bought a new position in The Hartford Financial Services Group in the fourth quarter valued at approximately $278,704,000. Finally, Northern Trust Corp boosted its stake in The Hartford Financial Services Group by 0.5% in the fourth quarter. Northern Trust Corp now owns 3,381,943 shares of the insurance provider’s stock valued at $271,841,000 after acquiring an additional 18,419 shares during the last quarter. 93.42% of the stock is owned by institutional investors.
Insider Activity at The Hartford Financial Services Group
In related news, EVP Michael R. Fisher sold 4,088 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $101.47, for a total value of $414,809.36. Following the completion of the transaction, the executive vice president now owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Jonathan R. Bennett sold 18,335 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $100.78, for a total value of $1,847,801.30. Following the completion of the transaction, the executive vice president now owns 25,643 shares of the company’s stock, valued at $2,584,301.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total transaction of $414,809.36. Following the completion of the transaction, the executive vice president now directly owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,499 shares of company stock valued at $9,449,309. Corporate insiders own 1.60% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on HIG shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $105.00 price objective on shares of The Hartford Financial Services Group in a research note on Friday, June 28th. Argus raised their price objective on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. The Goldman Sachs Group raised their price objective on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Keefe, Bruyette & Woods raised their price objective on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company reduced their price objective on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $106.71.
View Our Latest Research Report on HIG
The Hartford Financial Services Group Trading Down 0.9 %
Shares of NYSE:HIG opened at $98.71 on Monday. The Hartford Financial Services Group, Inc. has a 12 month low of $68.82 and a 12 month high of $105.20. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The company’s fifty day simple moving average is $100.73 and its 200 day simple moving average is $95.31. The firm has a market cap of $29.19 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 0.82 and a beta of 0.93.
The Hartford Financial Services Group (NYSE:HIG – Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the business earned $1.68 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. As a group, research analysts forecast that The Hartford Financial Services Group, Inc. will post 9.88 EPS for the current fiscal year.
The Hartford Financial Services Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Monday, June 3rd were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Monday, June 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 21.36%.
The Hartford Financial Services Group Profile
(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.
Featured Articles
Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Financial Services Group, Inc. (NYSE:HIG – Free Report).
Receive News & Ratings for The Hartford Financial Services Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for The Hartford Financial Services Group and related companies with MarketBeat.com’s FREE daily email newsletter.
