Cerity Partners LLC increased its position in Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) stock by 21.5% in the first quarter, the company said in its most recent filing with the Securities and Exchange Commission. The company owned 6,748 shares of the insurance provider after purchasing an additional 1,193 shares during the period. Cerity Partners LLC’s holdings in Hartford Financial Services Group were worth $485,000 at the end of the most recent quarter.
Other institutional investors have also recently changed their positions in the company. Covestor Ltd purchased a new $27,000 position in Hartford Financial Services Group stock during the fourth quarter. Confluence Wealth Services Inc. acquired a new position in Hartford Financial Services Group stock valued at $28,000 during the fourth quarter. James Reed Financial Services Inc. purchased a new $34,000 position in Hartford Financial Services Group stock during the fourth quarter. EverSource Wealth Advisors LLC purchased a new $35,000 position in Hartford Financial Services Group stock during the fourth quarter. Finally, Exane Derivatives purchased a new $38,000 position in shares of Hartford Financial Services Group during the first quarter. Hedge funds and other institutional investors own 93.01% of the company’s shares.
In related news, CEO Christopher Swift sold 47,130 shares of Hartford Financial Services Group in a transaction on Wednesday, May 4th. The stock sold at an average price of $72.89 for a total transaction of $3,435,305.70. Upon completion of the sale, the Chief Executive Officer now owns 172,129 shares of the Company, valued at $12,546,482.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In addition, CFO Beth Ann Costello sold 47,214 shares of Hartford Financial Services Group in a transaction on Wednesday, May 4th. The stock sold at an average price of $73.18 for a total value of $3,455,120.52. Following the sale, the Chief Financial Officer now directly owns 50,503 shares of the Company’s stock valued at approximately $3,695,809.54. The disclosure for this sale can be found here. Insiders have sold 109,087 shares of the company’s stock valued at $7,966,960 over the past ninety days. Company insiders own 1.80% of the company’s shares.
Several equity analysts have published reports on the company. Raymond James raised his price target on Hartford Financial Services Group from $80.00 to $85.00 in a research note on Tuesday, May 3. StockNews.com acquired coverage of Hartford Financial Services Group in a research note on Thursday, March 31st. They gave the stock a “buy” rating. Credit Suisse Group has raised its price target on Hartford Financial Services Group to $104.00 from $93.00 and gave the company an outperform rating in a research note on Friday, June 3. Barclays raised its price target on Hartford Financial Services Group to $86.00 from $85.00 and rated the company “overweight” in a research note on Tuesday, April 12. Finally, on Monday, May 23, Citigroup took over coverage of the Hartford Financial Services Group in a research note. They issued a “buy” rating and a price target of $81.00 on the stock. Four equities research analysts have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target of $81.15.
Shares of HIG stock opened at $65.10 on Tuesday. The company has a leverage ratio of 0.28, a quick ratio of 0.32 and a current ratio of 0.32. Hartford Financial Services Group, Inc. has a 52-week low of $60.31 and a 52-week high of $78.17. The company has a market cap of $21.41 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 1.37 and a beta of 0.98. The stock’s 50-day simple moving average is $68.42 and its 200-day simple moving average is $70.07.
Hartford Financial Services Group (NYSE:HIG – Get Rating) last issued earnings results on Thursday, April 28th. The insurance provider reported $1.66 EPS for the quarter, beating analysts’ consensus estimate of $1.56 by $0.10. Hartford Financial Services Group had a return on equity of 14.84% and a net margin of 11.39%. The company had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.60 billion. In the same quarter last year, the company posted earnings per share of $0.56. The company’s revenue increased 1.8% compared to the prior-year quarter. As a group, equity analysts are forecasting that Hartford Financial Services Group, Inc. will report year-to-date earnings per share of 6.86.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. A dividend of $0.385 per share was paid to investors of record on Wednesday, June 1st. That equates to a dividend of $1.54 on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Tuesday May 31st. Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.18%.
About Hartford Financial Services Group (received rating)
Hartford Financial Services Group, Inc provides insurance and financial services to personal and business customers in the United States, United Kingdom and internationally. The Commercial Lines segment offers workers’ compensation, property, automobile, liability, umbrella, bond, marine, livestock and reinsurance; and customized insurance products and risk management services, including professional liability, suretyship, suretyship and specialty casualty insurance through regional offices, branch offices, policyholder sales and service centers, independent retail agents and brokers, wholesale agents and reinsurance brokers.
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