Merit Financial Group LLC Sells 712 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Merit Financial Group LLC trimmed its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 12.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,852 shares of the insurance provider’s stock after selling 712 shares during the period. Merit Financial Group LLC’s holdings in The Hartford Financial Services Group were worth $390,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. GoalVest Advisory LLC grew its holdings in The Hartford Financial Services Group by 464.8% during the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 251 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in The Hartford Financial Services Group in the 4th quarter worth about $26,000. CVA Family Office LLC bought a new position in The Hartford Financial Services Group in the 4th quarter worth about $27,000. Chilton Capital Management LLC bought a new position in The Hartford Financial Services Group in the 4th quarter worth about $28,000. Finally, Selway Asset Management bought a new position in The Hartford Financial Services Group in the 3rd quarter worth about $29,000. 93.42% of the stock is currently owned by institutional investors.

Insider Activity at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 14,528 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total transaction of $1,365,196.16. Following the completion of the transaction, the executive vice president now directly owns 46,792 shares of the company’s stock, valued at approximately $4,397,044.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Robert W. Paiano sold 14,528 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total transaction of $1,365,196.16. Following the transaction, the executive vice president now owns 46,792 shares in the company, valued at approximately $4,397,044.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Beth Ann Costello sold 38,915 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $95.42, for a total transaction of $3,713,269.30. Following the completion of the sale, the chief financial officer now owns 69,169 shares in the company, valued at approximately $6,600,105.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,169 shares of company stock worth $8,676,992. 1.60% of the stock is owned by corporate insiders.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $99.34 on Wednesday. The Hartford Financial Services Group, Inc. has a 52 week low of $67.42 and a 52 week high of $103.64. The business’s 50 day moving average price is $98.96 and its 200 day moving average price is $87.74. 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 firm has a market cap of $29.38 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.40 and a beta of 0.90.

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

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.89%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

Analyst Ratings Changes

HIG has been the topic of a number of research analyst reports. Roth Mkm upped their target price on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Citigroup increased their price objective 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, April 16th. Keefe, Bruyette & Woods increased their price objective 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. Royal Bank of Canada increased their price objective on shares of The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a “sector perform” rating in a research note on Monday, February 5th. Finally, UBS Group increased their price objective 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. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average target price of $105.44.

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.