OLD National Bancorp IN Sells 864 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

OLD National Bancorp IN cut its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 23.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,793 shares of the insurance provider’s stock after selling 864 shares during the period. OLD National Bancorp IN’s holdings in The Hartford Financial Services Group were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. increased its holdings in The Hartford Financial Services Group by 5.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,574 shares of the insurance provider’s stock worth $282,000 after purchasing an additional 144 shares in the last quarter. Choreo LLC increased its holdings in The Hartford Financial Services Group by 2.1% during the 4th quarter. Choreo LLC now owns 6,452 shares of the insurance provider’s stock worth $708,000 after purchasing an additional 130 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in The Hartford Financial Services Group by 2.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after purchasing an additional 97 shares in the last quarter. Empowered Funds LLC increased its holdings in The Hartford Financial Services Group by 62.1% during the 4th quarter. Empowered Funds LLC now owns 28,622 shares of the insurance provider’s stock worth $3,131,000 after purchasing an additional 10,964 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in The Hartford Financial Services Group by 13.8% during the 4th quarter. Stephens Inc. AR now owns 18,949 shares of the insurance provider’s stock worth $2,073,000 after purchasing an additional 2,291 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $124.82 on Wednesday. The company has a market capitalization of $35.46 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 1.12 and a beta of 0.71. 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 firm has a 50 day moving average of $123.47 and a 200 day moving average of $117.82. The Hartford Financial Services Group, Inc. has a twelve month low of $98.16 and a twelve month high of $132.09.

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

The Hartford Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, June 2nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Monday, June 2nd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.74%.

Wall Street Analyst Weigh In

A number of brokerages have commented on HIG. JPMorgan Chase & Co. boosted their price objective on The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Morgan Stanley boosted their target price on The Hartford Financial Services Group from $115.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Wells Fargo & Company cut their target price on The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Keefe, Bruyette & Woods cut their target price on The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, Piper Sandler boosted their target price on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average price target of $129.71.

Insider Buying and Selling

In other news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group 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 transaction, the chief executive officer now owns 211,082 shares in the company, valued at $25,412,161.98. This trade represents a 31.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Allison G. Niderno sold 1,086 shares of The Hartford Financial Services Group stock in a transaction on Monday, April 28th. The stock was sold at an average price of $119.42, for a total transaction of $129,690.12. Following the transaction, the senior vice president now owns 622 shares in the company, valued at $74,279.24. This represents a 63.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,291 shares of company stock worth $12,078,254. 1.50% of the stock is owned by insiders.

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.