Atlas Capital Advisors Inc. Sells 3,280 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Atlas Capital Advisors Inc. cut its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 49.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,303 shares of the insurance provider’s stock after selling 3,280 shares during the quarter. Atlas Capital Advisors Inc.’s holdings in The Hartford Financial Services Group were worth $361,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HIG. HighTower Advisors LLC lifted its holdings 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 purchasing an additional 7,350 shares during the last quarter. Horizon Advisory Services Inc. bought a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $277,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of The Hartford Financial Services Group during the 3rd quarter valued at approximately $19,005,000. Assenagon Asset Management S.A. boosted its holdings in The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after buying an additional 709,324 shares during the period. Finally, Victory Capital Management Inc. grew its stake in The Hartford Financial Services Group by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock valued at $514,363,000 after buying an additional 202,487 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 8.0 %

Shares of HIG opened at $113.56 on Friday. The stock has a market capitalization of $32.41 billion, a P/E ratio of 10.97, a PEG ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a twelve month low of $94.47 and a twelve month high of $125.08. 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 firm has a fifty day simple moving average of $116.56 and a two-hundred day simple moving average of $115.49.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share 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%. On average, research analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.83%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on HIG shares. Wells Fargo & Company cut their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Piper Sandler boosted their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.47.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the transaction, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher Swift sold 1,144 shares of The Hartford Financial Services Group stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total value of $143,000.00. Following the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $26,385,250. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,343 shares of company stock worth $13,488,337 over the last quarter. 1.60% of the stock is owned by corporate insiders.

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.