The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. reduced its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 39.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,998 shares of the insurance provider’s stock after selling 3,320 shares during the period. Meyer Handelman Co.’s holdings in The Hartford Financial Services Group were worth $515,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GoalVest Advisory LLC lifted its stake in shares of The Hartford Financial Services Group by 464.8% in the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 251 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in The Hartford Financial Services Group during the 4th quarter worth approximately $26,000. CVA Family Office LLC acquired a new position in The Hartford Financial Services Group during the 4th quarter worth approximately $27,000. Chilton Capital Management LLC purchased a new stake in The Hartford Financial Services Group during the 4th quarter worth approximately $28,000. Finally, Cape Investment Advisory Inc. increased its holdings in The Hartford Financial Services Group by 189.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 245 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $102.94 on Friday. The company has a market cap of $30.45 billion, a P/E ratio of 11.70, a PEG ratio of 0.85 and a beta of 0.93. The stock has a fifty day moving average price of $100.12 and a 200 day moving average price of $93.69. 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 Hartford Financial Services Group, Inc. has a 12 month low of $68.82 and a 12 month high of $103.96.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 Hartford Financial Services Group’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 earnings per share. On average, research analysts forecast that The Hartford Financial Services Group, Inc. will post 9.94 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 3rd will be given a dividend of $0.47 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 1.83%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HIG. Citigroup lifted their price objective on The Hartford Financial Services Group from $113.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Roth Mkm lifted their price objective on The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Raymond James restated an “outperform” rating and set a $120.00 price objective (up from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Wells Fargo & Company dropped their price objective on The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Finally, Morgan Stanley dropped their price objective on The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.24.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the completion of the transaction, the chief financial officer now owns 69,169 shares in the company, valued at approximately $6,896,840.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Beth Ann Costello sold 72,076 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the completion of the sale, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jonathan R. Bennett sold 18,335 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $100.78, for a total value of $1,847,801.30. Following the sale, the executive vice president now directly owns 25,643 shares of the company’s stock, valued at $2,584,301.54. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

The Hartford Financial Services Group 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.