The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by First National Bank of Mount Dora Trust Investment Services

First National Bank of Mount Dora Trust Investment Services reduced its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 24.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,815 shares of the insurance provider’s stock after selling 23,133 shares during the period. The Hartford Financial Services Group comprises approximately 1.6% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 26th biggest position. First National Bank of Mount Dora Trust Investment Services’ holdings in The Hartford Financial Services Group were worth $4,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Perigon Wealth Management LLC acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $29,000. Accel Wealth Management bought a new position in The Hartford Financial Services Group in the fourth quarter worth about $31,000. DB Wealth Management Group LLC acquired a new stake in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $42,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in The Hartford Financial Services Group in the 4th quarter worth about $44,000. Finally, Charter Oak Capital Management LLC acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 90.48% of the company’s stock.

The Hartford Financial Services Group stock traded down $0.73 on Thursday, hitting $67.42. The company’s stock had a trading volume of 11,208 shares, compared to its average volume of 3,073,128. The Hartford Financial Services Group, Inc. has a one year low of $30.26 and a one year high of $69.60. The firm has a market cap of $24.09 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average price of $58.76 and a 200-day moving average price of $48.31.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, February 4th. The insurance provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.43. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.37 billion. The Hartford Financial Services Group had a net margin of 8.50% and a return on equity of 12.19%. During the same quarter last year, the company posted $1.43 EPS. Analysts anticipate that The Hartford Financial Services Group, Inc. will post 5.31 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 2nd. Stockholders of record on Monday, March 1st were paid a $0.35 dividend. The ex-dividend date was Friday, February 26th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.33. The Hartford Financial Services Group’s payout ratio is 24.78%.

The Hartford Financial Services Group announced that its board has approved a share buyback plan on Thursday, December 17th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to buy up to 8.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

HIG has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised The Hartford Financial Services Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $52.00 to $55.00 in a research note on Monday, January 4th. Royal Bank of Canada upped their price objective on shares of The Hartford Financial Services Group from $51.00 to $67.00 in a report on Tuesday, March 30th. Zacks Investment Research lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research note on Monday, December 28th. Raymond James upped their target price on The Hartford Financial Services Group from $60.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Barclays lifted their price target on The Hartford Financial Services Group from $55.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, March 30th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The Hartford Financial Services Group presently has a consensus rating of “Buy” and an average target price of $65.69.

In other The Hartford Financial Services Group news, EVP William A. Bloom sold 33,019 shares of the firm’s stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $65.22, for a total transaction of $2,153,499.18. Following the transaction, the executive vice president now owns 70,372 shares in the company, valued at $4,589,661.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jonathan R. Bennett sold 1,865 shares of the company’s stock in a transaction dated Wednesday, March 31st. The shares were sold at an average price of $68.00, for a total value of $126,820.00. Following the completion of the sale, the executive vice president now directly owns 25,641 shares of the company’s stock, valued at $1,743,588. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 183,332 shares of company stock worth $12,064,527. 1.70% of the stock is owned by corporate insiders.

The Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance products; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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Institutional Ownership by Quarter for The Hartford Financial Services Group (NYSE:HIG)

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