MV Capital Management Inc. Sells 313 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

MV Capital Management Inc. cut its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,562 shares of the insurance provider’s stock after selling 313 shares during the period. MV Capital Management Inc.’s holdings in The Hartford Financial Services Group were worth $171,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. boosted its stake in The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after buying an additional 234 shares in the last quarter. Barrett & Company Inc. boosted its stake in shares of The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 93 shares in the last quarter. BNP Paribas bought a new stake in shares of The Hartford Financial Services Group during the 3rd quarter valued at approximately $35,000. DT Investment Partners LLC increased its position in The Hartford Financial Services Group by 49.8% during the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 110 shares in the last quarter. Finally, Flagship Wealth Advisors LLC bought a new position in The Hartford Financial Services Group in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Down 0.6 %

Shares of NYSE:HIG opened at $122.21 on Friday. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $124.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The business’s 50-day moving average is $115.52 and its 200-day moving average is $115.27. The company has a market capitalization of $34.88 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. Equities research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Insiders Place Their Bets

In related news, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the transaction, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $120.39, for a total value 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 $25,412,161.98. This trade represents a 31.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Wells Fargo & Company cut their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group 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.