The Hartford Financial Services Group, Inc. (NYSE:HIG) Stock Position Lowered by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 165,896 shares of the insurance provider’s stock after selling 2,667 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of The Hartford Financial Services Group worth $17,096,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HIG. GoalVest Advisory LLC lifted its position in The Hartford Financial Services Group by 464.8% in the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after buying an additional 251 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter worth $26,000. CVA Family Office LLC acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter worth $27,000. Chilton Capital Management LLC acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter worth $28,000. Finally, Cape Investment Advisory Inc. increased its stake in shares of The Hartford Financial Services Group by 189.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

HIG has been the topic of several analyst reports. Wells Fargo & Company dropped their price target 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. Morgan Stanley lowered their target price on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Argus raised their target price 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. Piper Sandler reiterated an “overweight” rating and issued a $115.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Finally, Royal Bank of Canada reiterated 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. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.59.

The Hartford Financial Services Group Trading Up 0.3 %

Shares of HIG traded up $0.31 on Thursday, reaching $100.41. 34,362 shares of the company’s stock were exchanged, compared to its average volume of 1,674,506. 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 stock has a market capitalization of $29.70 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 0.82 and a beta of 0.93. The business has a 50 day moving average price of $100.88 and a two-hundred day moving average price of $95.63. The Hartford Financial Services Group, Inc. has a 12 month low of $68.82 and a 12 month high of $105.20.

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 the consensus estimate of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The firm had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the previous year, the company posted $1.68 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts anticipate that The Hartford Financial Services Group, Inc. will post 9.88 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Monday, June 3rd. The Hartford Financial Services Group’s dividend payout ratio is 21.36%.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Michael R. Fisher sold 4,088 shares of the stock in a transaction on 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 owns 14,818 shares in the company, valued at $1,503,582.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Beth Ann Costello sold 72,076 shares of the 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 transaction, the chief financial officer now owns 69,169 shares in the company, valued at $6,896,840.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael R. Fisher sold 4,088 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction of $414,809.36. Following the transaction, the executive vice president now 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. Insiders sold 94,499 shares of company stock valued at $9,449,309 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Company 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.