Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) Chief Financial Officer Beth Ann Costello sold 47,214 shares of the company in a trade that took place on Wednesday, May 4. The stock was sold at an average price of $73.18, for a total value of $3,455,120.52. Following the transaction, the CFO now directly owns 50,503 shares of the company, valued at approximately $3,695,809.54. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink.
Shares of HIG opened at $72.11 on Friday. The stock has a market capitalization of $23.71 billion, a price/earnings ratio of 9.92, a PEG ratio of 1.51 and a beta of 0.97. The stock has a 50-day moving average of $71.16 and a 200-day moving average of $70.77. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt ratio of 0.28. The Hartford Financial Services Group, Inc. has a 1-year low of $59.86 and a 1-year high of $78.17.
The Hartford Financial Services Group (NYSE:HIG – Get Rating) last released its results on Thursday, April 28. The insurance provider reported EPS of $1.66 for the quarter, beating the consensus estimate of $1.55 by $0.11. The Hartford Financial Services Group had a return on equity of 14.84% and a net margin of 11.39%. The company posted revenue of $5.39 billion in the quarter, compared to $5.60 billion expected by analysts. During the same quarter last year, the firm posted earnings per share of $0.56. The company’s revenue increased 1.8% year over year. Sell-side analysts expect The Hartford Financial Services Group, Inc. to post earnings per share of 6.95 for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 4. Shareholders of record on Tuesday, March 1 received a dividend of $0.385. The ex-dividend date was Monday, February 28. This represents a dividend of $1.54 on an annualized basis and a dividend yield of 2.14%. Hartford Financial Services Group’s dividend payout ratio is currently 21.18%.
Hedge funds have recently been buying and selling shares of the company. Covestor Ltd purchased a new stake in The Hartford Financial Services Group during the fourth quarter for $27,000. Confluence Wealth Services Inc. acquired a new stake in The Hartford Financial Services Group during the fourth quarter valued at $28,000. Concord Wealth Partners increased its stake in The Hartford Financial Services Group by 142.1% during the third quarter. Concord Wealth Partners now owns 431 shares of the insurance provider worth $30,000 after acquiring an additional 253 shares during the period. Parkside Investments LLC purchased a new stake in The Hartford Financial Services Group during the first quarter for $30,000. Finally, James Reed Financial Services Inc. acquired a new stake in The Hartford Financial Services Group during the fourth quarter at a value of $34,000. Institutional investors hold 93.01% of the company’s shares.
Several research analysts have weighed in on the company. Barclays raised its price target on Hartford Financial Services Group from $85.00 to $86.00 and gave the stock an “overweight” rating in a Tuesday, April 12 research report. Raymond James raised its target price on the Hartford Financial Services Group from $80.00 to $85.00 in a report released Tuesday. Morgan Stanley cut its price target on Hartford Financial Services Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a Friday, January 14 report. Finally, StockNews.com began covering the Hartford Financial Services Group in a report on Thursday, March 31. They set a “buy” rating on the stock. Four investment analysts gave the stock a hold rating and eight gave the company a buy rating. According to MarketBeat.com, the Hartford Financial Services Group has an average rating of “Buy” 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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