Provence Wealth Management Group Has $335,000 Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Provence Wealth Management Group trimmed its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 25.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,164 shares of the insurance provider’s stock after selling 1,428 shares during the period. Provence Wealth Management Group’s holdings in The Hartford Financial Services Group were worth $335,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its stake in shares of The Hartford Financial Services Group by 2.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 91,493 shares of the insurance provider’s stock worth $6,488,000 after purchasing an additional 1,964 shares in the last quarter. SVB Wealth LLC raised its holdings in shares of The Hartford Financial Services Group by 20.2% during the 3rd quarter. SVB Wealth LLC now owns 9,811 shares of the insurance provider’s stock valued at $696,000 after purchasing an additional 1,649 shares in the last quarter. Xponance Inc. boosted its holdings in The Hartford Financial Services Group by 3.3% in the third quarter. Xponance Inc. now owns 43,629 shares of the insurance provider’s stock worth $3,094,000 after purchasing an additional 1,412 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of The Hartford Financial Services Group by 5.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 125,961 shares of the insurance provider’s stock worth $8,932,000 after buying an additional 5,946 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of The Hartford Financial Services Group by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,719,651 shares of the insurance provider’s stock worth $192,850,000 after acquiring an additional 21,740 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Hartford Financial Services Group

In other news, EVP Adin M. Tooker sold 8,206 shares of The Hartford Financial Services Group stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $95.60, for a total value of $784,493.60. Following the completion of the sale, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at approximately $2,468,392. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Adin M. Tooker sold 8,206 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $95.60, for a total value of $784,493.60. Following the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at $2,468,392. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Beth Ann Costello sold 38,915 shares of The Hartford Financial Services Group stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $95.42, for a total transaction of $3,713,269.30. Following the sale, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at approximately $6,600,105.98. The disclosure for this sale can be found here. Insiders sold a total of 106,501 shares of company stock valued at $10,141,126 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

HIG stock traded up $0.41 during midday trading on Friday, reaching $97.90. 1,358,945 shares of the company’s stock traded hands, compared to its average volume of 1,787,088. The company has a 50-day simple moving average of $98.77 and a two-hundred day simple moving average of $86.97. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group, Inc. has a 1-year low of $67.05 and a 1-year high of $103.64. The company has a market cap of $28.95 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.39 and a beta of 0.90.

The Hartford Financial Services Group (NYSE:HIG) last announced its 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 business had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.68 earnings per share. On average, analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.03 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 annualized dividend and a dividend yield of 1.92%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 21.36%.

Analysts Set New Price Targets

HIG has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price on The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada raised their price target on The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a “sector perform” rating in a research report on Monday, February 5th. Piper Sandler restated an “overweight” rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. TD Cowen upped their target price on shares of The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Wells Fargo & Company reduced their target price 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. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.44.

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.