Vaughan Nelson Investment Management L.P. Has $581,000 Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Vaughan Nelson Investment Management L.P. reduced its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,640 shares of the insurance provider’s stock after selling 265 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in The Hartford Financial Services Group were worth $581,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Kowal Investment Group LLC acquired a new position in The Hartford Financial Services Group during the first quarter worth $250,000. LVW Advisors LLC raised its stake in The Hartford Financial Services Group by 12.1% during the first quarter. LVW Advisors LLC now owns 4,996 shares of the insurance provider’s stock worth $515,000 after acquiring an additional 539 shares in the last quarter. SteelPeak Wealth LLC raised its stake in The Hartford Financial Services Group by 65.5% during the first quarter. SteelPeak Wealth LLC now owns 34,626 shares of the insurance provider’s stock worth $3,584,000 after acquiring an additional 13,710 shares in the last quarter. Guidance Capital Inc. raised its stake in The Hartford Financial Services Group by 3.5% during the first quarter. Guidance Capital Inc. now owns 8,391 shares of the insurance provider’s stock worth $816,000 after acquiring an additional 280 shares in the last quarter. Finally, Winthrop Advisory Group LLC acquired a new stake in shares of The Hartford Financial Services Group in the first quarter valued at $220,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Michael R. Fisher sold 4,088 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction of $414,809.36. Following the sale, 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 is available at the SEC website. In related news, EVP Jonathan R. Bennett sold 18,335 shares of The Hartford Financial Services Group stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total value of $1,847,801.30. Following the sale, the executive vice president now owns 25,643 shares of the company’s stock, valued at approximately $2,584,301.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 sale, the executive vice president now directly owns 14,818 shares in the company, valued at approximately $1,503,582.46. The disclosure for this sale can be found here. Insiders have sold a total of 94,499 shares of company stock valued at $9,449,309 over the last 90 days. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on HIG shares. Morgan Stanley lowered their target price on The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $105.00 target price on shares of The Hartford Financial Services Group in a research note on Friday, June 28th. JPMorgan Chase & Co. raised their target price on The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Roth Mkm raised their target price on The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Finally, TD Cowen raised their target price on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $106.71.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $100.05 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group, Inc. has a 1 year low of $68.82 and a 1 year high of $105.20. The stock has a market cap of $29.59 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93. The stock’s 50-day moving average price is $100.65 and its two-hundred day moving average price is $94.77.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (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 the consensus estimate of $6.51 billion. During the same quarter last year, the business posted $1.68 EPS. The Hartford Financial Services Group’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts predict that The Hartford Financial Services Group, Inc. will post 9.91 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Monday, June 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 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.