Insider Selling: The Hartford Financial Services Group, Inc. (NYSE:HIG) EVP Sells $803,479.60 in Stock

The Hartford Financial Services Group, Inc. (NYSE:HIG) EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $117.04, for a total transaction of $803,479.60. Following the transaction, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

The Hartford Financial Services Group Stock Up 1.3 %

Shares of NYSE:HIG opened at $119.70 on Friday. The firm has a market capitalization of $34.70 billion, a P/E ratio of 11.99, a P/E/G ratio of 0.96 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a 50 day moving average price of $116.71 and a 200-day moving average price of $109.17. The Hartford Financial Services Group, Inc. has a 52-week low of $76.65 and a 52-week high of $123.23.

The Hartford Financial Services Group declared that its Board of Directors has initiated a stock 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 repurchase up to 10.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s payout ratio is 18.84%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HIG. Royal Bank of Canada raised their price objective on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Bank of America boosted their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Jefferies Financial Group upped their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company raised their price target on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.88.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Unigestion Holding SA grew its holdings in The Hartford Financial Services Group by 1,524.2% in the third quarter. Unigestion Holding SA now owns 218,166 shares of the insurance provider’s stock worth $25,654,000 after purchasing an additional 204,734 shares during the period. Toronto Dominion Bank boosted its position in shares of The Hartford Financial Services Group by 0.6% in the 3rd quarter. Toronto Dominion Bank now owns 146,975 shares of the insurance provider’s stock worth $17,286,000 after purchasing an additional 824 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of The Hartford Financial Services Group by 18.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,268 shares of the insurance provider’s stock worth $855,000 after buying an additional 1,148 shares during the last quarter. MidWestOne Financial Group Inc. bought a new position in The Hartford Financial Services Group during the 3rd quarter valued at approximately $212,000. Finally, M&T Bank Corp increased its position in The Hartford Financial Services Group by 4.0% during the 3rd quarter. M&T Bank Corp now owns 41,166 shares of the insurance provider’s stock valued at $4,842,000 after buying an additional 1,600 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

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.