The Hartford Financial Services Group, Inc. (NYSE:HIG) CEO Sells $11,805,563.79 in Stock

The Hartford Financial Services Group, Inc. (NYSE:HIG) CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $119.20 on Friday. The company has a 50 day moving average price of $114.36 and a 200-day moving average price of $115.05. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $124.90. The firm has a market capitalization of $34.02 billion, a PE ratio of 11.52, a P/E/G ratio of 1.12 and a beta of 0.91. 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 Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. As a group, equities research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.74%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HIG. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. BMO Capital Markets lifted their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $122.94.

Institutional Trading of The Hartford Financial Services Group

A number of large investors have recently made changes to their positions in the stock. HighTower Advisors LLC grew its position in The Hartford Financial Services Group by 7.1% during the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after buying an additional 7,350 shares during the period. Dai ichi Life Insurance Company Ltd grew its position in The Hartford Financial Services Group by 3.3% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock valued at $16,172,000 after buying an additional 4,449 shares during the period. Horizon Advisory Services Inc. bought a new stake in The Hartford Financial Services Group during the fourth quarter valued at approximately $277,000. Zurich Insurance Group Ltd FI bought a new stake in The Hartford Financial Services Group during the third quarter valued at approximately $19,005,000. Finally, Assenagon Asset Management S.A. grew its position in The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after buying an additional 709,324 shares during the period. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Company Profile

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.