Raymond James & Associates Sells 59,267 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Raymond James & Associates reduced its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 584,242 shares of the insurance provider’s stock after selling 59,267 shares during the period. Raymond James & Associates owned 0.20% of The Hartford Financial Services Group worth $60,206,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. McGlone Suttner Wealth Management Inc. grew its stake in shares of The Hartford Financial Services Group by 11.7% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock worth $254,000 after buying an additional 331 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $2,875,000. New Millennium Group LLC bought a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at $1,552,000. SteelPeak Wealth LLC purchased a new position in shares of The Hartford Financial Services Group in the 4th quarter worth about $1,691,000. Finally, Cerity Partners LLC boosted its stake in The Hartford Financial Services Group by 19.8% in the 4th quarter. Cerity Partners LLC now owns 49,614 shares of the insurance provider’s stock worth $4,003,000 after purchasing an additional 8,203 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of NYSE:HIG traded up $0.41 during midday trading on Friday, hitting $97.90. The company had a trading volume of 1,358,945 shares, compared to its average volume of 1,787,088. The company has a market cap of $28.95 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.39 and a beta of 0.90. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31. The company has a fifty day moving average of $98.81 and a two-hundred day moving average of $87.14. The Hartford Financial Services Group, Inc. has a 12-month low of $67.05 and a 12-month high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly 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 during 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 quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.68 EPS. On average, equities research analysts expect that The Hartford Financial Services Group, Inc. will post 10.03 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were given a $0.47 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.92%. The Hartford Financial Services Group’s payout ratio is currently 21.36%.

Insider Transactions at The Hartford Financial Services Group

In other news, SVP Allison G. Niderno sold 1,332 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total value of $119,533.68. Following the transaction, the senior vice president now directly owns 630 shares in the company, valued at $56,536.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Robert W. Paiano sold 14,528 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total transaction of $1,365,196.16. Following the completion of the transaction, the executive vice president now owns 46,792 shares in the company, valued at $4,397,044.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Allison G. Niderno sold 1,332 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total value of $119,533.68. Following the completion of the sale, the senior vice president now owns 630 shares in the company, valued at $56,536.20. The disclosure for this sale can be found here. Insiders sold a total of 106,501 shares of company stock valued at $10,141,126 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the subject of several recent analyst reports. Citigroup lifted their target price on shares of The Hartford Financial Services Group from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Roth Mkm increased 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. Royal Bank of Canada boosted their price target on The Hartford Financial Services Group from $77.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Monday, February 5th. Piper Sandler reaffirmed an “overweight” rating and set a $115.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Finally, The Goldman Sachs Group boosted their target price on The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.44.

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.