Insider Selling: Hartford Financial Services Group Inc (NYSE:HIG) Director Sells $205,485.00 in Stock

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Hartford Financial Services Group Inc (NYSE:HIG) Director Robert B. Allardice III sold 3,500 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $58.71, for a total value of $205,485.00. Following the completion of the sale, the director now owns 21,684 shares of the company’s stock, valued at $1,273,067.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of HIG stock opened at $57.89 on Friday. The stock has a 50-day moving average price of $57.33 and a 200 day moving average price of $52.64. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.27. The firm has a market cap of $21.30 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.18 and a beta of 0.67. Hartford Financial Services Group Inc has a 12 month low of $40.54 and a 12 month high of $59.17.

Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, August 1st. The insurance provider reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.22. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.07 billion. Hartford Financial Services Group had a return on equity of 12.44% and a net margin of 8.36%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $1.13 earnings per share. Sell-side analysts predict that Hartford Financial Services Group Inc will post 5.24 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.20 dividend on an annualized basis and a yield of 2.07%. Hartford Financial Services Group’s payout ratio is 27.71%.

A number of hedge funds have recently made changes to their positions in HIG. Virtus ETF Advisers LLC acquired a new stake in Hartford Financial Services Group in the second quarter worth about $26,000. NuWave Investment Management LLC increased its position in Hartford Financial Services Group by 950.0% in the second quarter. NuWave Investment Management LLC now owns 504 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 456 shares during the period. Rational Advisors LLC increased its position in Hartford Financial Services Group by 950.0% in the second quarter. Rational Advisors LLC now owns 504 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 456 shares during the period. Harvest Group Wealth Management LLC acquired a new stake in Hartford Financial Services Group in the first quarter worth about $33,000. Finally, Icon Wealth Partners LLC acquired a new stake in Hartford Financial Services Group in the first quarter worth about $33,000. Hedge funds and other institutional investors own 90.71% of the company’s stock.

HIG has been the subject of a number of research reports. Royal Bank of Canada raised their target price on Hartford Financial Services Group to $68.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Buckingham Research raised their target price on Hartford Financial Services Group from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Goldman Sachs Group upgraded Hartford Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $53.00 to $64.00 in a research note on Wednesday, May 29th. Barclays set a $70.00 target price on Hartford Financial Services Group and gave the company a “buy” rating in a research note on Monday. Finally, B. Riley raised their target price on Hartford Financial Services Group from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Hartford Financial Services Group has a consensus rating of “Buy” and a consensus target price of $61.92.

About Hartford Financial Services Group

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.

Read More: Why do company’s buyback their stock?

Insider Buying and Selling by Quarter for Hartford Financial Services Group (NYSE:HIG)

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