MV Capital Management Inc. Sells 986 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

MV Capital Management Inc. reduced its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 63.1% during the 1st quarter, Holdings Channel reports. The fund owned 576 shares of the insurance provider’s stock after selling 986 shares during the period. MV Capital Management Inc.’s holdings in The Hartford Financial Services Group were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Catalyst Financial Partners LLC increased 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 in the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of The Hartford Financial Services Group by 2.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after acquiring an additional 97 shares in the last quarter. Smithfield Trust Co raised its holdings in shares of The Hartford Financial Services Group by 26.7% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 100 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its position in The Hartford Financial Services Group by 0.8% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,286 shares of the insurance provider’s stock valued at $1,453,000 after acquiring an additional 105 shares in the last quarter. Finally, Howard Capital Management Inc. increased its holdings in The Hartford Financial Services Group by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 2,164 shares of the insurance provider’s stock worth $237,000 after purchasing an additional 108 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HIG. UBS Group raised their target price on The Hartford Financial Services Group from $139.00 to $142.00 and gave the company a “buy” rating in a report on Monday, April 28th. Raymond James increased their target price on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, March 31st. Wells Fargo & Company reduced their price objective on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Morgan Stanley boosted their target price on The Hartford Financial Services Group from $115.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Finally, Piper Sandler increased their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.71.

Insider Transactions at The Hartford Financial Services Group

In related news, SVP Allison G. Niderno sold 1,086 shares of the business’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the transaction, the senior vice president now owns 622 shares in the company, valued at $74,279.24. The trade was a 63.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. This trade represents a 31.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,291 shares of company stock valued at $12,078,254. Insiders own 1.50% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $124.30 on Thursday. The firm has a market capitalization of $35.32 billion, a PE ratio of 12.01, a P/E/G ratio of 1.12 and a beta of 0.71. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $123.68 and a two-hundred day moving average price of $117.87. The Hartford Financial Services Group, Inc. has a twelve month low of $98.16 and a twelve month high of $132.09.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same period last year, the firm earned $2.34 EPS. The Hartford Financial Services Group’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.67%. The Hartford Financial Services Group’s payout ratio is currently 20.74%.

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.