Integrated Wealth Concepts LLC Sells 257 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Integrated Wealth Concepts LLC reduced its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,673 shares of the insurance provider’s stock after selling 257 shares during the period. Integrated Wealth Concepts LLC’s holdings in The Hartford Financial Services Group were worth $730,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in HIG. Thurston Springer Miller Herd & Titak Inc. grew its holdings in The Hartford Financial Services Group by 3,342.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 234 shares during the last quarter. Barrett & Company Inc. grew its stake in shares of The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 93 shares during the last quarter. DT Investment Partners LLC increased its holdings in The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 110 shares during the period. Flagship Wealth Advisors LLC bought a new position in The Hartford Financial Services Group during the 4th quarter worth $36,000. Finally, Key Financial Inc lifted its holdings in The Hartford Financial Services Group by 526.3% during the 4th quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock worth $39,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.6 %

NYSE:HIG opened at $121.97 on Friday. 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 Hartford Financial Services Group, Inc. has a one year low of $96.31 and a one year high of $125.08. The company has a market cap of $34.65 billion, a PE ratio of 11.78, a PEG ratio of 1.12 and a beta of 0.68. The firm has a 50-day moving average of $118.40 and a 200-day moving average of $115.54.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.05. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same quarter last year, the company earned $2.34 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.71%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.74%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HIG. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Tuesday. Piper Sandler increased their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 1st. Raymond James boosted their target price on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, March 31st. JPMorgan Chase & Co. lifted their price objective on The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods cut their target price on The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Seven 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.87.

Insider Activity at The Hartford Financial Services Group

In related news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Allison G. Niderno sold 1,086 shares of the business’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $119.42, for a total transaction of $129,690.12. Following the completion of the transaction, the senior vice president now directly owns 622 shares in the company, valued at $74,279.24. This trade represents a 63.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,429 shares of company stock valued at $13,618,028 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

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.