The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,238 shares of the insurance provider’s stock after selling 1,579 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in The Hartford Financial Services Group were worth $1,675,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Janney Montgomery Scott LLC grew its position in The Hartford Financial Services Group by 2.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 139,060 shares of the insurance provider’s stock valued at $15,213,000 after buying an additional 3,184 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in The Hartford Financial Services Group by 7.1% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 38,248 shares of the insurance provider’s stock valued at $4,184,000 after buying an additional 2,530 shares during the last quarter. PFG Investments LLC grew its position in The Hartford Financial Services Group by 8.6% in the 4th quarter. PFG Investments LLC now owns 2,858 shares of the insurance provider’s stock valued at $313,000 after buying an additional 227 shares during the last quarter. Blue Trust Inc. grew its position in The Hartford Financial Services Group by 44.3% in the 4th quarter. Blue Trust Inc. now owns 7,434 shares of the insurance provider’s stock valued at $874,000 after buying an additional 2,284 shares during the last quarter. Finally, Nilsine Partners LLC grew its position in The Hartford Financial Services Group by 10.1% in the 4th quarter. Nilsine Partners LLC now owns 3,520 shares of the insurance provider’s stock valued at $385,000 after buying an additional 324 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the transaction, the executive vice president now owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. The trade was a 29.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Swift sold 1,144 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total transaction of $143,000.00. Following the completion of the transaction, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $26,385,250. The trade was a 0.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,429 shares of company stock valued at $13,618,028. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HIG shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Piper Sandler lifted their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Wells Fargo & Company lowered their price objective on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Jefferies Financial Group lowered their price objective on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of 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 investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.71.

The Hartford Financial Services Group Trading Down 0.1%

NYSE:HIG opened at $128.86 on Tuesday. The company has a market capitalization of $36.61 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.12 and a beta of 0.70. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group, Inc. has a 52-week low of $98.16 and a 52-week high of $132.09. The stock has a fifty day simple moving average of $122.03 and a 200-day simple moving average of $116.99.

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

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, June 2nd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Monday, June 2nd. The Hartford Financial Services Group’s payout ratio is 20.74%.

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.