Insider Selling: The Hartford Financial Services Group, Inc. (NYSE:HIG) EVP Sells $1,539,773.60 in Stock

The Hartford Financial Services Group, Inc. (NYSE:HIG) EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $119.06 on Friday. The company has a market cap of $33.98 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.12 and a beta of 0.91. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $124.90. The business has a fifty day simple moving average of $113.25 and a 200-day simple moving average of $114.91.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is currently 20.10%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Monday, March 10th. Piper Sandler raised their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. BMO Capital Markets raised their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods raised their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.94.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIG. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 234 shares during the last quarter. Barrett & Company Inc. lifted its stake 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 worth $32,000 after purchasing an additional 93 shares in the last quarter. Spurstone Advisory Services LLC acquired a new position in shares of The Hartford Financial Services Group during the fourth quarter worth about $33,000. BNP Paribas acquired a new position in shares of The Hartford Financial Services Group during the third quarter worth about $35,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of The Hartford Financial Services Group during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

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.