Insider Selling: Hartford Financial Services Group Inc (NYSE:HIG) Director Sells $553,090.00 in Stock

Hartford Financial Services Group Inc (NYSE:HIG) Director Robert B. Allardice III sold 9,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $58.22, for a total transaction of $553,090.00. Following the completion of the sale, the director now owns 21,684 shares of the company’s stock, valued at approximately $1,262,442.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of HIG opened at $57.89 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.27. The stock has a market cap of $21.30 billion, a P/E ratio of 12.67, a PEG ratio of 1.18 and a beta of 0.67. The company has a 50-day moving average of $57.33 and a two-hundred day moving average of $52.64. Hartford Financial Services Group Inc has a 12-month low of $40.54 and a 12-month high of $59.17.

Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, August 1st. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Hartford Financial Services Group had a net margin of 8.36% and a return on equity of 12.44%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 earnings per share. As a group, analysts forecast that Hartford Financial Services Group Inc will post 5.24 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, August 30th. Hartford Financial Services Group’s payout ratio is currently 27.71%.

Several analysts recently commented on the stock. Goldman Sachs Group upgraded shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $53.00 to $64.00 in a research note on Wednesday, May 29th. Royal Bank of Canada raised their price objective on shares of Hartford Financial Services Group to $68.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Zacks Investment Research cut shares of Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. B. Riley raised their price objective on shares of Hartford Financial Services Group from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Morgan Stanley raised their price objective on shares of Hartford Financial Services Group from $58.00 to $61.00 and gave the company an “equal weight” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $61.92.

A number of institutional investors and hedge funds have recently made changes to their positions in HIG. Dimensional Fund Advisors LP lifted its position in Hartford Financial Services Group by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,109,074 shares of the insurance provider’s stock valued at $227,084,000 after acquiring an additional 565,189 shares in the last quarter. Geode Capital Management LLC lifted its position in Hartford Financial Services Group by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 4,622,774 shares of the insurance provider’s stock valued at $205,120,000 after acquiring an additional 353,601 shares in the last quarter. Calamos Advisors LLC bought a new position in Hartford Financial Services Group in the 1st quarter valued at approximately $763,000. Mercer Global Advisors Inc. ADV bought a new position in Hartford Financial Services Group in the 1st quarter valued at approximately $548,000. Finally, Louisiana State Employees Retirement System lifted its position in Hartford Financial Services Group by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the insurance provider’s stock valued at $945,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 90.71% of the company’s stock.

About Hartford Financial Services Group

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.

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Insider Buying and Selling by Quarter for Hartford Financial Services Group (NYSE:HIG)

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