SeaCrest Wealth Management LLC Sells 2,034 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

SeaCrest Wealth Management LLC lowered its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 43.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,667 shares of the insurance provider’s stock after selling 2,034 shares during the period. SeaCrest Wealth Management LLC’s holdings in The Hartford Financial Services Group were worth $275,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of HIG. Hotchkis & Wiley Capital Management LLC grew its holdings in 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 period. Victory Capital Management Inc. grew its holdings in shares of The Hartford Financial Services Group by 2.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,247,966 shares of the insurance provider’s stock valued at $421,832,000 after buying an additional 105,799 shares during the period. LSV Asset Management increased its position in shares of The Hartford Financial Services Group by 3.5% in the 4th quarter. LSV Asset Management now owns 4,821,885 shares of the insurance provider’s stock valued at $387,583,000 after buying an additional 165,190 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of The Hartford Financial Services Group by 2.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,503,815 shares of the insurance provider’s stock valued at $248,646,000 after buying an additional 87,001 shares in the last quarter. Finally, Norges Bank acquired a new stake in The Hartford Financial Services Group during the 4th quarter worth $278,704,000. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Price Performance

NYSE:HIG opened at $99.60 on Thursday. The stock has a market capitalization of $29.46 billion, a PE ratio of 11.32, a P/E/G ratio of 0.83 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a 1-year low of $68.82 and a 1-year high of $105.20. The firm has a fifty day simple moving average of $100.65 and a 200 day simple moving average of $94.91. 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 (NYSE:HIG) last announced 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 firm had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $1.68 EPS. On average, research analysts expect that The Hartford Financial Services Group, Inc. will post 9.91 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders 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 yield of 1.89%. The ex-dividend date of this dividend was Monday, June 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, CFO Beth Ann Costello sold 72,076 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was 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 approximately $6,896,840.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Beth Ann Costello sold 72,076 shares of The Hartford Financial Services Group stock in a transaction dated 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 owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan R. Bennett sold 18,335 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the completion of the transaction, the executive vice president now directly owns 25,643 shares in the company, valued at $2,584,301.54. The disclosure for this sale can be found here. Insiders have sold 94,499 shares of company stock worth $9,449,309 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Piper Sandler restated 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $105.00 price target on shares of The Hartford Financial Services Group in a research note on Friday, June 28th. Evercore ISI upped their price target on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. TD Cowen raised their price objective on shares of The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Roth Mkm upped their target price on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.71.

The Hartford Financial Services Group 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.