Kentucky Retirement Systems Insurance Trust Fund Sells 864 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 8.1% during the first quarter, Holdings Channel reports. The firm owned 9,851 shares of the insurance provider’s stock after selling 864 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in The Hartford Financial Services Group were worth $1,015,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of HIG. Norges Bank bought a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at about $278,704,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in The Hartford Financial Services Group by 26.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock valued at $491,915,000 after purchasing an additional 1,272,290 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in The Hartford Financial Services Group by 72.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider’s stock valued at $137,633,000 after purchasing an additional 559,019 shares during the period. KBC Group NV increased its stake in The Hartford Financial Services Group by 85.5% during the 4th quarter. KBC Group NV now owns 1,074,470 shares of the insurance provider’s stock worth $86,366,000 after acquiring an additional 495,192 shares during the period. Finally, Bank of Nova Scotia increased its stake in The Hartford Financial Services Group by 793.3% during the 4th quarter. Bank of Nova Scotia now owns 325,412 shares of the insurance provider’s stock worth $26,156,000 after acquiring an additional 288,984 shares during the period. 93.42% of the stock is owned by institutional investors.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the sale, the chief financial officer now owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Jonathan R. Bennett sold 18,335 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $100.78, for a total value of $1,847,801.30. Following the transaction, the executive vice president now directly owns 25,643 shares in the company, valued at $2,584,301.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total value of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares in the company, valued at $6,896,840.99. The disclosure for this sale can be found here. Insiders have sold a total of 94,499 shares of company stock worth $9,449,309 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

HIG has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Monday. Wells Fargo & Company decreased their price objective on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Argus lifted their price objective on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. lifted their price objective on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, Evercore ISI raised their price objective on The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average target price of $110.12.

The Hartford Financial Services Group Stock Up 0.0 %

HIG traded up $0.03 during midday trading on Monday, reaching $109.66. 469,635 shares of the company were exchanged, compared to its average volume of 1,661,641. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.32 and a current ratio of 0.32. The company’s fifty day moving average price is $101.55 and its 200 day moving average price is $97.59. The company has a market cap of $32.13 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 0.91 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a one year low of $68.82 and a one year high of $110.62.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.02 billion. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. During the same period last year, the business earned $1.88 EPS. The business’s revenue was up 7.2% on a year-over-year basis. As a group, analysts expect that The Hartford Financial Services Group, Inc. will post 9.86 EPS for the current year.

The Hartford Financial Services Group announced that its Board of Directors has authorized a share buyback program on Thursday, July 25th that allows the company to repurchase $3.30 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 10.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will be paid a $0.47 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a dividend yield of 1.71%. The Hartford Financial Services Group’s payout ratio is presently 21.36%.

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.