Insider Selling: The Hartford Financial Services Group, Inc. (NYSE:HIG) EVP Sells 13,138 Shares of Stock

The Hartford Financial Services Group, Inc. (NYSE:HIG) EVP Robert W. Paiano sold 13,138 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the transaction, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

The Hartford Financial Services Group Stock Up 2.2 %

NYSE:HIG opened at $119.06 on Friday. The firm has a market capitalization of $33.98 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The stock has a 50 day moving average of $113.25 and a 200-day moving average of $114.91. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $124.90. 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 posted its earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. Analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.75%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Analysts Set New Price Targets

Several research analysts recently commented on HIG shares. BMO Capital Markets boosted their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Monday, March 10th. Wells Fargo & Company cut their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Finally, Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and a consensus price target of $122.94.

Hedge Funds Weigh In On The Hartford Financial Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in HIG. Norges Bank acquired a new position in shares of The Hartford Financial Services Group during the fourth quarter worth approximately $416,340,000. AustralianSuper Pty Ltd boosted its position in shares of The Hartford Financial Services Group by 265.5% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after buying an additional 881,224 shares during the period. Ameriprise Financial Inc. boosted its position in shares of The Hartford Financial Services Group by 48.1% during the fourth quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider’s stock worth $247,761,000 after buying an additional 735,170 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after buying an additional 709,324 shares during the period. Finally, Proficio Capital Partners LLC boosted its position in shares of The Hartford Financial Services Group by 11,904.7% during the fourth quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock worth $632,000 after buying an additional 626,304 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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.