Artemis Investment Management LLP Sells 7,431 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Artemis Investment Management LLP cut its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,307 shares of the insurance provider’s stock after selling 7,431 shares during the period. Artemis Investment Management LLP’s holdings in The Hartford Financial Services Group were worth $13,627,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Banque Cantonale Vaudoise lifted its holdings in shares of The Hartford Financial Services Group by 378.8% in the first quarter. Banque Cantonale Vaudoise now owns 16,725 shares of the insurance provider’s stock worth $1,724,000 after buying an additional 13,232 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its holdings in 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 valued at $254,000 after acquiring an additional 331 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in The Hartford Financial Services Group in the 4th quarter worth $2,875,000. Stifel Financial Corp boosted its holdings in shares of The Hartford Financial Services Group by 14.2% during the 4th quarter. Stifel Financial Corp now owns 261,995 shares of the insurance provider’s stock valued at $21,059,000 after purchasing an additional 32,534 shares during the last quarter. Finally, New Millennium Group LLC purchased a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at about $1,552,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Stock Down 2.2 %

Shares of NYSE HIG opened at $100.54 on Friday. The Hartford Financial Services Group, Inc. has a 1 year low of $68.82 and a 1 year high of $105.20. The firm has a 50-day simple moving average of $100.65 and a two-hundred day simple moving average of $94.43. The company has a market cap of $29.74 billion, a P/E ratio of 11.43, a PEG ratio of 0.85 and a beta of 0.93. 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 (NYSE:HIG) last issued its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The business had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts anticipate that The Hartford Financial Services Group, Inc. will post 9.91 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.88 annualized dividend and a dividend yield of 1.87%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

Analyst Ratings Changes

A number of research firms recently commented on HIG. Roth Mkm boosted their target price on The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Morgan Stanley decreased 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. Piper Sandler reissued an “overweight” rating and issued a $115.00 target price on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $105.00 price target on shares of The Hartford Financial Services Group in a research report on Friday. Finally, TD Cowen increased their price objective on shares of The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.71.

Insider Activity

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

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.