Vaughan Nelson Investment Management L.P. Reduces Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Vaughan Nelson Investment Management L.P. lowered its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,640 shares of the insurance provider’s stock after selling 265 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in The Hartford Financial Services Group were worth $581,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GoalVest Advisory LLC raised its stake in shares of The Hartford Financial Services Group by 464.8% during the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 251 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $26,000. CVA Family Office LLC purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $27,000. Chilton Capital Management LLC purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $28,000. Finally, Cape Investment Advisory Inc. raised its stake in shares of The Hartford Financial Services Group by 189.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 245 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of HIG opened at $100.05 on Wednesday. The Hartford Financial Services Group, Inc. has a 1 year low of $68.82 and a 1 year high of $105.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market cap of $29.59 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93. The firm has a fifty day moving average of $100.65 and a 200-day moving average of $94.77.

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 analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The business had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the previous year, the company posted $1.68 earnings per share. The Hartford Financial Services Group’s revenue was up 8.6% compared to the same quarter last year. As a group, equities 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 declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Monday, June 3rd were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Monday, June 3rd. The Hartford Financial Services Group’s payout ratio is 21.36%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HIG. Wells Fargo & Company dropped their price target on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Argus lifted their price target on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Piper Sandler restated an “overweight” rating and issued a $115.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Roth Mkm lifted their price target on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Finally, TD Cowen lifted their price target on shares of The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Eight equities research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $106.71.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of the company’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 completion of the sale, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction of $414,809.36. Following the sale, the executive vice president now owns 14,818 shares in the company, valued at approximately $1,503,582.46. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Beth Ann Costello sold 72,076 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 69,169 shares in the company, valued at approximately $6,896,840.99. The disclosure for this sale can be found here. In the last three months, insiders sold 94,499 shares of company stock valued at $9,449,309. 1.60% of the stock is owned by insiders.

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.