Verum Partners LLC Buys Shares of 2,361 The Hartford Financial Services Group, Inc. (NYSE:HIG)

Verum Partners LLC bought a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,361 shares of the insurance provider’s stock, valued at approximately $243,000.

Several other large investors also recently added to or reduced their stakes in HIG. GoalVest Advisory LLC increased its stake in shares of The Hartford Financial Services Group by 464.8% in the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 251 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of The Hartford Financial Services Group in the fourth quarter worth $26,000. CVA Family Office LLC acquired a new position in shares of The Hartford Financial Services Group in the fourth quarter worth $27,000. Chilton Capital Management LLC acquired a new position in shares of The Hartford Financial Services Group in the fourth quarter worth $28,000. Finally, Cape Investment Advisory Inc. increased its stake in shares of The Hartford Financial Services Group by 189.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 245 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 Michael R. Fisher sold 4,088 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total value of $414,809.36. Following the completion of the sale, the executive vice president now owns 14,818 shares in the company, valued at $1,503,582.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Michael R. Fisher sold 4,088 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total value of $414,809.36. Following the completion of the sale, the executive vice president now owns 14,818 shares in the company, valued at $1,503,582.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jonathan R. Bennett sold 18,335 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the completion of the transaction, the executive vice president now directly owns 25,643 shares of the company’s stock, valued at approximately $2,584,301.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,499 shares of company stock worth $9,449,309. Company insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Performance

HIG stock traded up $0.16 during mid-day trading on Tuesday, reaching $100.05. 1,692,883 shares of the stock traded hands, compared to its average volume of 1,701,275. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group, Inc. has a 52 week low of $68.82 and a 52 week high of $105.20. The business has a 50-day moving average of $100.65 and a two-hundred day moving average of $94.77. The firm has a market capitalization of $29.59 billion, a PE ratio of 11.37, a P/E/G ratio of 0.83 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter last year, the company earned $1.68 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, equities analysts predict that The Hartford Financial Services Group, Inc. will post 9.91 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 3rd will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Monday, June 3rd. The Hartford Financial Services Group’s payout ratio is presently 21.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Citigroup downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $116.00 to $114.00 in a research note on Friday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $105.00 price objective on shares of The Hartford Financial Services Group in a report on Friday. JPMorgan Chase & Co. upped their price objective on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Evercore ISI upped their price objective on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Roth Mkm upped their price objective on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.71.

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.