Christopher Swift Sells 98,061 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) Stock

The Hartford Financial Services Group, Inc. (NYSE:HIG) CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

The Hartford Financial Services Group Stock Up 0.7 %

NYSE HIG traded up $0.82 during trading hours on Wednesday, reaching $119.73. 1,745,499 shares of the company’s stock were exchanged, compared to its average volume of 1,724,778. The company’s 50-day moving average is $113.69 and its two-hundred day moving average is $114.96. The Hartford Financial Services Group, Inc. has a one year low of $94.47 and a one year high of $124.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $34.17 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. On average, analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Hedge Funds Weigh In On The Hartford Financial Services Group

Hedge funds have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of The Hartford Financial Services Group by 3,342.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 234 shares in the last quarter. Barrett & Company Inc. grew its stake in shares of The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after buying an additional 93 shares in the last quarter. BNP Paribas bought a new position in shares of The Hartford Financial Services Group in the third quarter valued at $35,000. Spurstone Advisory Services LLC bought a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at $33,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at $35,000. 93.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

HIG has been the subject of several research analyst reports. BMO Capital Markets upped their target price on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Piper Sandler upped their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. StockNews.com lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Company decreased their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

About The Hartford Financial Services Group

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.