Wealth Enhancement Advisory Services LLC Sells 2,103 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Wealth Enhancement Advisory Services LLC lessened its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,058 shares of the insurance provider’s stock after selling 2,103 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in The Hartford Financial Services Group were worth $6,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GoalVest Advisory LLC boosted its holdings in shares of The Hartford Financial Services Group by 464.8% during the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 251 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at about $26,000. CVA Family Office LLC bought a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at about $27,000. Chilton Capital Management LLC bought a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at about $28,000. Finally, Cape Investment Advisory Inc. lifted its holdings in shares of The Hartford Financial Services Group by 189.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 245 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on HIG. Piper Sandler reaffirmed an “overweight” rating and issued a $115.00 price target on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Morgan Stanley lowered their price target on shares of The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Citigroup downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $116.00 to $114.00 in a report on Friday. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Roth Mkm increased their price target on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.71.

Insider Activity at The Hartford Financial Services Group

In related news, CFO Beth Ann Costello sold 72,076 shares of The Hartford Financial Services Group stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the transaction, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Beth Ann Costello sold 72,076 shares of The Hartford Financial Services Group stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the completion of the sale, the chief financial officer now directly owns 69,169 shares in the company, valued at $6,896,840.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan R. Bennett sold 18,335 shares of The Hartford Financial Services Group stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the sale, the executive vice president now owns 25,643 shares of the company’s stock, valued at $2,584,301.54. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

The Hartford Financial Services Group Stock Performance

Shares of NYSE:HIG opened at $100.54 on Monday. The firm has a market cap of $29.74 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93. The firm’s 50 day simple moving average is $100.65 and its 200-day simple moving average is $94.63. The Hartford Financial Services Group, Inc. has a one year low of $68.82 and a one year high of $105.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results 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 company had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.51 billion. The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $1.68 earnings per share. As a group, equities analysts predict that The Hartford Financial Services Group, Inc. will post 9.91 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 3rd will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, June 3rd. The Hartford Financial Services Group’s payout ratio is 21.36%.

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.