The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC lessened its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 8.9% during the 4th quarter, HoldingsChannel reports. The firm owned 13,068 shares of the insurance provider’s stock after selling 1,271 shares during the period. Redwood Investment Management LLC’s holdings in The Hartford Financial Services Group were worth $1,430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of 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 worth $26,000 after buying an additional 234 shares in the last quarter. Barrett & Company Inc. grew its stake in The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in The Hartford Financial Services Group in the 4th quarter valued at about $35,000. DT Investment Partners LLC lifted its stake in The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 110 shares in the last quarter. Finally, Flagship Wealth Advisors LLC acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HIG. Keefe, Bruyette & Woods cut their price target on The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. UBS Group raised their target price on The Hartford Financial Services Group from $139.00 to $142.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. Jefferies Financial Group lowered their price target on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Raymond James raised their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Finally, StockNews.com downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Monday. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.07.

Insider Activity

In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,086 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the completion of the transaction, the senior vice president now owns 622 shares in the company, valued at $74,279.24. The trade was a 63.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 211,082 shares in the company, valued at $25,412,161.98. The trade was a 31.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,429 shares of company stock worth $13,618,028. Corporate insiders own 1.50% of the company’s stock.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $129.13 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market cap of $36.69 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.12 and a beta of 0.70. The stock has a 50-day moving average of $120.38 and a two-hundred day moving average of $116.12. The Hartford Financial Services Group, Inc. has a 1-year low of $98.16 and a 1-year high of $130.00.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.05. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.97 billion. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.34 earnings per share. As a group, analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.74%.

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.