Hartford Financial Services Group Inc (NYSE:HIG) EVP Robert W. Paiano sold 5,000 shares of Hartford Financial Services Group stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $52.40, for a total transaction of $262,000.00. Following the transaction, the executive vice president now owns 33,342 shares of the company’s stock, valued at approximately $1,747,120.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NYSE:HIG traded down $0.02 during trading on Friday, reaching $53.58. The stock had a trading volume of 2,418,563 shares, compared to its average volume of 2,121,719. Hartford Financial Services Group Inc has a fifty-two week low of $40.54 and a fifty-two week high of $54.10. The firm has a market cap of $19.14 billion, a PE ratio of 12.37, a P/E/G ratio of 1.09 and a beta of 0.73. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.
Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Wednesday, May 1st. The insurance provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.15. Hartford Financial Services Group had a net margin of 9.58% and a return on equity of 12.46%. The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the previous year, the firm earned $1.27 earnings per share. Hartford Financial Services Group’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts expect that Hartford Financial Services Group Inc will post 5.12 earnings per share for the current fiscal year.
Hartford Financial Services Group announced that its board has initiated a share repurchase plan on Monday, February 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.24%. Hartford Financial Services Group’s payout ratio is 27.71%.
Institutional investors have recently added to or reduced their stakes in the stock. Advantage Investment Management LLC grew its holdings in Hartford Financial Services Group by 66.7% in the first quarter. Advantage Investment Management LLC now owns 500 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 200 shares during the period. Dubuque Bank & Trust Co. purchased a new stake in Hartford Financial Services Group in the fourth quarter valued at approximately $29,000. Icon Wealth Partners LLC purchased a new stake in Hartford Financial Services Group in the first quarter valued at approximately $33,000. Harvest Group Wealth Management LLC purchased a new stake in Hartford Financial Services Group in the first quarter valued at approximately $33,000. Finally, Horan Capital Advisors LLC. purchased a new stake in Hartford Financial Services Group in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 91.21% of the company’s stock.
A number of equities analysts have recently weighed in on HIG shares. ValuEngine lowered shares of Hartford Financial Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. TheStreet raised shares of Hartford Financial Services Group from a “c+” rating to a “b-” rating in a research report on Thursday, March 14th. Barclays boosted their price objective on shares of Hartford Financial Services Group from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Wells Fargo & Co reissued a “hold” rating and issued a $56.00 price objective on shares of Hartford Financial Services Group in a research report on Thursday, May 2nd. Finally, Zacks Investment Research lowered shares of Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.25.
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Hartford Financial Services Group Company Profile
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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