Westside Investment Management Inc. Sells 177 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Westside Investment Management Inc. trimmed its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 27.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 460 shares of the insurance provider’s stock after selling 177 shares during the period. Westside Investment Management Inc.’s holdings in The Hartford Financial Services Group were worth $47,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HIG. GoalVest Advisory LLC boosted its stake in The Hartford Financial Services Group by 464.8% in the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after buying an additional 251 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in The Hartford Financial Services Group in the fourth quarter worth approximately $26,000. CVA Family Office LLC purchased a new stake in The Hartford Financial Services Group in the fourth quarter worth approximately $27,000. Chilton Capital Management LLC purchased a new stake in The Hartford Financial Services Group in the fourth quarter worth approximately $28,000. Finally, Cape Investment Advisory Inc. boosted its stake in The Hartford Financial Services Group by 189.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock worth $30,000 after buying an additional 245 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Beth Ann Costello sold 72,076 shares of the firm’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 directly owns 69,169 shares in the company, valued at $6,896,840.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $101.47, for a total value of $414,809.36. Following the completion of the sale, the executive vice president now directly owns 14,818 shares in the company, valued at approximately $1,503,582.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Beth Ann Costello sold 72,076 shares of The Hartford Financial Services Group stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total value of $7,186,697.96. Following the completion of the sale, the chief financial officer now owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The disclosure for this sale can be found here. Insiders sold 94,499 shares of company stock worth $9,449,309 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HIG shares. Morgan Stanley cut their target price on The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. The Goldman Sachs Group increased their price objective on The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. TD Cowen increased their price objective on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI increased their price objective on The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Finally, Argus increased their price objective on The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $106.71.

The Hartford Financial Services Group Price Performance

HIG opened at $99.62 on Friday. The stock has a fifty day simple moving average of $100.65 and a two-hundred day simple moving average of $94.94. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29. The company has a market cap of $29.46 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 0.82 and a beta of 0.93. 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 posted its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The firm had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter last year, the company posted $1.68 EPS. The Hartford Financial Services Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts predict that The Hartford Financial Services Group, Inc. will post 9.88 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd were issued a dividend of $0.47 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.88 annualized dividend and a dividend yield of 1.89%. The Hartford Financial Services Group’s 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.