SVB Wealth LLC Sells 423 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

SVB Wealth LLC trimmed its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,388 shares of the insurance provider’s stock after selling 423 shares during the quarter. SVB Wealth LLC’s holdings in The Hartford Financial Services Group were worth $755,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Flputnam Investment Management Co. lifted its holdings in The Hartford Financial Services Group by 29.7% during the fourth quarter. Flputnam Investment Management Co. now owns 38,288 shares of the insurance provider’s stock valued at $3,078,000 after purchasing an additional 8,776 shares in the last quarter. Invesco LLC purchased a new position in The Hartford Financial Services Group during the fourth quarter valued at approximately $215,000. Cornercap Investment Counsel Inc. lifted its holdings in The Hartford Financial Services Group by 1.5% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 37,148 shares of the insurance provider’s stock valued at $2,986,000 after purchasing an additional 557 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in The Hartford Financial Services Group during the fourth quarter valued at approximately $1,463,000. Finally, MV Capital Management Inc. lifted its holdings in The Hartford Financial Services Group by 8.9% during the fourth quarter. MV Capital Management Inc. now owns 1,416 shares of the insurance provider’s stock valued at $114,000 after purchasing an additional 116 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total value of $2,670,695.60. Following the transaction, the executive vice president now directly owns 18,906 shares in the company, valued at $1,869,803.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the sale, the executive vice president now directly owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Allison G. Niderno sold 1,516 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $94.55, for a total transaction of $143,337.80. Following the completion of the sale, the senior vice president now directly owns 630 shares of the company’s stock, valued at $59,566.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,264 shares of company stock worth $18,438,369. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Morgan Stanley upped their price target on shares of The Hartford Financial Services Group from $94.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. UBS Group upped their price target on shares of The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Wells Fargo & Company upped their price target on shares of The Hartford Financial Services Group from $106.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Citigroup upped their price target on shares of The Hartford Financial Services Group from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.56.

The Hartford Financial Services Group Trading Up 2.1 %

HIG stock opened at $98.95 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group, Inc. has a twelve month low of $67.05 and a twelve month high of $103.64. The stock has a market capitalization of $29.42 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.37 and a beta of 0.89. The firm’s fifty day simple moving average is $97.80 and its two-hundred day simple moving average is $85.25.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Friday, February 2nd. The insurance provider reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.62. The firm had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $5.84 billion. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 earnings per share. As a group, analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.13 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 issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s payout ratio is presently 23.53%.

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.