Artemis Investment Management LLP Cuts Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Artemis Investment Management LLP decreased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,307 shares of the insurance provider’s stock after selling 7,431 shares during the quarter. Artemis Investment Management LLP’s holdings in The Hartford Financial Services Group were worth $13,627,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Janiczek Wealth Management LLC grew its stake in shares of The Hartford Financial Services Group by 9.4% in the first quarter. Janiczek Wealth Management LLC now owns 4,929 shares of the insurance provider’s stock valued at $508,000 after buying an additional 422 shares in the last quarter. Signet Financial Management LLC boosted its holdings in The Hartford Financial Services Group by 2.9% in the 1st quarter. Signet Financial Management LLC now owns 31,323 shares of the insurance provider’s stock worth $3,228,000 after acquiring an additional 877 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in The Hartford Financial Services Group in the first quarter valued at approximately $274,000. DGS Capital Management LLC purchased a new stake in shares of The Hartford Financial Services Group during the first quarter valued at approximately $417,000. Finally, Ignite Planners LLC purchased a new stake in shares of The Hartford Financial Services Group during the first quarter valued at approximately $213,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the completion of the transaction, the chief financial officer now owns 69,169 shares in the company, valued at approximately $6,896,840.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Jonathan R. Bennett sold 18,335 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the transaction, the executive vice president now owns 25,643 shares in the company, valued at $2,584,301.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total value of $7,186,697.96. Following the transaction, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HIG. Raymond James reaffirmed an “outperform” rating and set a $120.00 price target (up from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $105.00 target price on shares of The Hartford Financial Services Group in a research report on Friday. Evercore ISI increased their price target on The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Piper Sandler restated an “overweight” rating and set a $115.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Finally, Roth Mkm upped their target price on The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $106.71.

The Hartford Financial Services Group Trading Down 2.2 %

NYSE:HIG opened at $100.54 on Friday. The firm has a market capitalization of $29.74 billion, a P/E ratio of 11.43, a P/E/G ratio of 0.85 and a beta of 0.93. The business has a 50 day simple moving average of $100.65 and a 200 day simple moving average of $94.43. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Financial Services Group, Inc. has a 12-month low of $68.82 and a 12-month high of $105.20.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results 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 firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $1.68 EPS. Equities research analysts predict that The Hartford Financial Services Group, Inc. will post 9.91 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.88 annualized dividend and a dividend yield of 1.87%. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

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.