Hartford Financial Services Group, Inc. (NYSE:HIG) CEO Sells $3,435,305.70 in Stock


Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) CEO Christopher Swift sold 47,130 shares in a trade dated Wednesday, May 4. The stock was sold at an average price of $72.89, for a total transaction of $3,435,305.70. Following the completion of the sale, the CEO now directly owns 172,129 shares of the company, valued at approximately $12,546,482.81. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website.

HIG stock opened at $72.11 on Friday. The stock has a market capitalization of $23.71 billion, a P/E ratio of 9.92, a P/E/G ratio of 1.51 and a beta of 0.97. The company has a 50-day simple moving average of $71.16 and a 200-day simple moving average of $70.77. The company has a debt ratio of 0.28, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a 52-week low of $59.86 and a 52-week high of $78.17.

The Hartford Financial Services Group (NYSE:HIG – Get Rating) last released its quarterly earnings data on Thursday, April 28. The insurance provider reported earnings per share of $1.66 for the quarter, beating the consensus estimate of $1.55 by $0.11. The company posted revenue of $5.39 billion for the quarter, versus analyst estimates of $5.60 billion. The Hartford Financial Services Group achieved a net margin of 11.39% and a return on equity of 14.84%. The company’s revenue for the quarter increased 1.8% year over year. In the same quarter last year, the company earned $0.56 per share. Sell-side analysts expect The Hartford Financial Services Group, Inc. to post EPS of 6.95 for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 4. Investors of record on Tuesday, March 1 received a dividend of $0.385 per share. This represents an annualized dividend of $1.54 and a yield of 2.14%. The ex-dividend date was Monday, February 28. The Hartford Financial Services Group payout ratio is currently 21.18%.

A number of institutional investors and hedge funds have recently changed their stock holdings. Sheaff Brock Investment Advisors LLC acquired a new position in The Hartford Financial Services Group during the first quarter, valued at approximately $876,000. AIA Group Ltd increased its position in shares of The Hartford Financial Services Group by 46.8% in the first quarter. AIA Group Ltd now owns 3,383 shares of the insurance provider valued at $243,000 after purchasing an additional 1,079 shares during the period. CIBC Asset Management Inc. raised its position in shares of The Hartford Financial Services Group by 80.7% in the first quarter. CIBC Asset Management Inc. now owns 59,374 shares of the insurance provider valued at $4,264,000 after purchasing an additional 26,521 shares during the period. Independent Advisor Alliance bought a new position in shares of The Hartford Financial Services Group in the first quarter worth about $300,000. Finally, IFM Investors Pty Ltd increased its position in shares of The Hartford Financial Services Group by 6.3% in the first quarter. IFM Investors Pty Ltd now owns 50,531 shares of the insurance provider valued at $3,629,000 after buying an additional 3,005 shares during the period. 93.01% of the shares are currently held by hedge funds and other institutional investors.

Several equity analysts have commented on HIG shares. Raymond James raised his price target on shares of Hartford Financial Services Group from $80.00 to $85.00 in a research note on Tuesday. Barclays raised its price target on shares of Hartford Financial Services Group from $85.00 to $86.00 and gave the company an “overweight” rating in a Tuesday, April 12 research report. StockNews.com launched coverage on shares of Hartford Financial Services Group in a research report on Thursday, March 31. They set a “buy” rating for the company. Finally, Morgan Stanley cut its price target on shares of Hartford Financial Services Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a Friday, January 14 research report. . Four analysts gave the stock a hold rating and eight gave the stock a buy rating. According to MarketBeat, the stock currently has an average buy rating and an average target price of $80.58.

About Hartford Financial Services Group (Get a rating)

The Hartford Financial Services Group, Inc provides insurance and financial services to individuals and businesses in the United States, United Kingdom and internationally. Its Commercial Lines segment offers workers’ compensation, property, automobile, liability, umbrella insurance, bond, marine, livestock and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety and specialist accident insurance coverage through regional offices, branches, sales centers and policyholder services, independent retail agents and brokers, wholesale agents and reinsurance brokers.

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