Insider Selling: The Hartford Financial Services Group, Inc. (NYSE:HIG) CEO Sells 98,061 Shares of Stock

The Hartford Financial Services Group, Inc. (NYSE:HIG) CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $120.39, for a total value of $11,805,563.79. Following the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This represents a 31.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG traded up $0.82 during midday trading on Wednesday, hitting $119.73. 1,745,499 shares of the company’s stock were exchanged, compared to its average volume of 1,724,778. The Hartford Financial Services Group, Inc. has a 12-month low of $94.47 and a 12-month high of $124.90. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The company has a market cap of $34.17 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.12 and a beta of 0.91. The business’s fifty day moving average price is $113.69 and its two-hundred day moving average price is $114.96.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. As a group, research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Piper Sandler lifted their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. BMO Capital Markets boosted their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Finally, StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.94.

Institutional Trading of The Hartford Financial Services Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Catalyst Financial Partners LLC raised its stake in The Hartford Financial Services Group by 3.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock valued at $337,000 after purchasing an additional 90 shares during the period. Barrett & Company Inc. boosted its holdings in The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 93 shares during the period. Brooklyn Investment Group boosted its holdings in The Hartford Financial Services Group by 4.0% during the 3rd quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock valued at $287,000 after acquiring an additional 94 shares during the period. Wilmington Savings Fund Society FSB raised its position in The Hartford Financial Services Group by 2.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock valued at $489,000 after purchasing an additional 97 shares in the last quarter. Finally, Lifestyle Asset Management Inc. raised its position in The Hartford Financial Services Group by 0.9% during the 4th quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock valued at $1,258,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

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.