Amalgamated Bank Trims Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Amalgamated Bank lessened its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,337 shares of the insurance provider’s stock after selling 4,802 shares during the period. Amalgamated Bank’s holdings in The Hartford Financial Services Group were worth $6,457,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC lifted its position in shares of The Hartford Financial Services Group by 464.8% during the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 251 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter valued at approximately $26,000. CVA Family Office LLC acquired a new stake in shares of The Hartford Financial Services Group during the 4th quarter valued at approximately $27,000. Chilton Capital Management LLC bought a new position in The Hartford Financial Services Group during the fourth quarter worth $28,000. Finally, Selway Asset Management acquired a new position in The Hartford Financial Services Group in the third quarter worth $29,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Michael R. Fisher sold 27,004 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the completion of the sale, the executive vice president now directly owns 18,906 shares in the company, valued at $1,869,803.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Allison G. Niderno sold 1,332 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total transaction of $119,533.68. Following the transaction, the senior vice president now owns 630 shares of the company’s stock, valued at approximately $56,536.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was 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 owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The disclosure for this sale can be found here. Insiders have sold a total of 106,501 shares of company stock worth $10,141,126 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HIG. Royal Bank of Canada raised their price target on shares of The Hartford Financial Services Group from $77.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Monday, February 5th. Keefe, Bruyette & Woods boosted their price objective on The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company lowered their target price on The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. The Goldman Sachs Group boosted their price target on The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, UBS Group raised their price target on The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a “buy” rating in a report on Monday, February 5th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.44.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $97.90 on Monday. The company has a market cap of $28.95 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90. The company’s fifty day moving average is $98.81 and its two-hundred day moving average is $87.34. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group, Inc. has a 12-month low of $67.05 and a 12-month high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.09). The business had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.51 billion. The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.68 earnings per share. Equities analysts expect that The Hartford Financial Services Group, Inc. will post 10.01 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 21.36%.

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.