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 stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. This trade represents 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 Price Performance

NYSE HIG opened at $119.60 on Friday. The Hartford Financial Services Group, Inc. has a 12 month low of $94.47 and a 12 month high of $124.90. The stock has a market cap of $34.13 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.12 and a beta of 0.91. The company’s 50 day moving average is $114.10 and its two-hundred day moving average is $115.03. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, research analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

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

Analyst Upgrades and Downgrades

HIG has been the topic of several recent analyst reports. Piper Sandler increased their price objective on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Wells Fargo & Company dropped their price target 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. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $130.00 to $135.00 in a report on Monday, January 6th. Finally, StockNews.com downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.94.

Institutional Investors Weigh In On The Hartford Financial Services Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after buying an additional 234 shares during the last quarter. Barrett & Company Inc. raised its position in shares of The Hartford Financial Services Group by 46.5% during 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 during the last quarter. BNP Paribas bought a new stake in shares of The Hartford Financial Services Group during the third quarter valued at approximately $35,000. Spurstone Advisory Services LLC bought a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $33,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in The Hartford Financial Services Group during the fourth quarter valued at $35,000. Institutional investors own 93.42% 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.