Sanibel Captiva Trust Company Inc. Lowers Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Sanibel Captiva Trust Company Inc. lowered its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,124 shares of the insurance provider’s stock after selling 315 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in The Hartford Financial Services Group were worth $387,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of The Hartford Financial Services Group by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 7,251,389 shares of the insurance provider’s stock valued at $792,796,000 after acquiring an additional 81,495 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of The Hartford Financial Services Group by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock valued at $514,363,000 after acquiring an additional 202,487 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of The Hartford Financial Services Group by 6.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider’s stock valued at $419,053,000 after acquiring an additional 234,320 shares during the last quarter. Norges Bank acquired a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $416,340,000. Finally, Northern Trust Corp raised its holdings in shares of The Hartford Financial Services Group by 17.2% during the fourth quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider’s stock valued at $387,021,000 after acquiring an additional 519,717 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Transactions at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. This trade represents a 31.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Allison G. Niderno sold 1,086 shares of the firm’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the completion of the sale, the senior vice president now owns 622 shares in the company, valued at approximately $74,279.24. This represents a 63.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,291 shares of company stock worth $12,078,254 over the last ninety days. Company insiders own 1.50% of the company’s stock.

The Hartford Financial Services Group Price Performance

HIG stock opened at $124.30 on Thursday. The business has a fifty day moving average of $123.68 and a two-hundred day moving average of $117.87. 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 stock has a market cap of $35.32 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.12 and a beta of 0.71. The Hartford Financial Services Group, Inc. has a 52-week low of $98.16 and a 52-week high of $132.09.

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 (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.05. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.97 billion. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.34 earnings per share. As a group, research analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be given a dividend of $0.52 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.67%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.74%.

Analyst Ratings Changes

A number of brokerages have commented on HIG. Wells Fargo & Company reduced their target price on The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Raymond James increased their target price on 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. Morgan Stanley increased their target price on The Hartford Financial Services Group from $115.00 to $130.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Barclays increased their price target on The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. increased their price target on The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Seven 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 stock. According to data from MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average target price of $129.71.

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.