Provence Wealth Management Group Sells 1,428 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Provence Wealth Management Group lessened its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 25.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,164 shares of the insurance provider’s stock after selling 1,428 shares during the quarter. Provence Wealth Management Group’s holdings in The Hartford Financial Services Group were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in HIG. MV Capital Management Inc. boosted its stake in The Hartford Financial Services Group by 8.9% in the fourth quarter. MV Capital Management Inc. now owns 1,416 shares of the insurance provider’s stock worth $114,000 after buying an additional 116 shares in the last quarter. Realta Investment Advisors increased its stake in The Hartford Financial Services Group by 3.7% in the 4th quarter. Realta Investment Advisors now owns 3,635 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 129 shares during the period. Perigon Wealth Management LLC lifted its position in The Hartford Financial Services Group by 4.7% in the fourth quarter. Perigon Wealth Management LLC now owns 3,204 shares of the insurance provider’s stock valued at $258,000 after purchasing an additional 143 shares during the last quarter. Moors & Cabot Inc. grew its holdings in shares of The Hartford Financial Services Group by 1.5% in the third quarter. Moors & Cabot Inc. now owns 10,490 shares of the insurance provider’s stock worth $744,000 after purchasing an additional 150 shares during the last quarter. Finally, CI Investments Inc. increased its stake in shares of The Hartford Financial Services Group by 2.9% in the third quarter. CI Investments Inc. now owns 5,473 shares of the insurance provider’s stock worth $388,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity at The Hartford Financial Services Group

In related news, CFO Beth Ann Costello sold 38,915 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $95.42, for a total transaction of $3,713,269.30. Following the completion of the sale, the chief financial officer now directly owns 69,169 shares in the company, valued at $6,600,105.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Beth Ann Costello sold 38,915 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $95.42, for a total transaction of $3,713,269.30. Following the completion of the transaction, the chief financial officer now directly owns 69,169 shares in the company, valued at approximately $6,600,105.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael R. Fisher sold 27,004 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the sale, the executive vice president now owns 18,906 shares in the company, valued at approximately $1,869,803.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,501 shares of company stock worth $10,141,126. 1.60% of the stock is owned by insiders.

The Hartford Financial Services Group Stock Performance

Shares of NYSE:HIG traded up $0.41 during midday trading on Friday, reaching $97.90. 1,358,945 shares of the company’s stock traded hands, compared to its average volume of 1,787,088. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Financial Services Group, Inc. has a one year low of $67.05 and a one year high of $103.64. The company has a market cap of $28.95 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 1.39 and a beta of 0.90. The stock has a 50 day moving average of $98.77 and a 200 day moving average of $86.97.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The company had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the business earned $1.68 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.03 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were paid a $0.47 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.92%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 21.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group raised their price target on shares of The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, February 5th. The Goldman Sachs Group lifted their price objective on The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Evercore ISI raised their price target on The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Morgan Stanley reduced their price objective on shares of The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, Roth Mkm raised their target price on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $105.44.

About The Hartford Financial Services Group

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.