Advisor Resource Council Sells 8,693 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Advisor Resource Council trimmed its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 51.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,280 shares of the insurance provider's stock after selling 8,693 shares during the period. Advisor Resource Council's holdings in The Hartford Financial Services Group were worth $853,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of HIG. LPL Financial LLC grew its holdings in The Hartford Financial Services Group by 6.8% during the third quarter. LPL Financial LLC now owns 107,297 shares of the insurance provider's stock valued at $7,608,000 after purchasing an additional 6,840 shares during the period. Glenmede Trust Co. NA grew its holdings in The Hartford Financial Services Group by 36.8% during the third quarter. Glenmede Trust Co. NA now owns 49,298 shares of the insurance provider's stock valued at $3,496,000 after purchasing an additional 13,271 shares during the period. Advisors Asset Management Inc. grew its holdings in The Hartford Financial Services Group by 40.4% during the third quarter. Advisors Asset Management Inc. now owns 22,049 shares of the insurance provider's stock valued at $1,563,000 after purchasing an additional 6,350 shares during the period. Ameriprise Financial Inc. grew its holdings in The Hartford Financial Services Group by 2.5% during the third quarter. Ameriprise Financial Inc. now owns 3,503,815 shares of the insurance provider's stock valued at $248,646,000 after purchasing an additional 87,001 shares during the period. Finally, Lido Advisors LLC bought a new position in The Hartford Financial Services Group during the third quarter valued at $216,000. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Price Performance

NYSE HIG traded down $0.41 during trading hours on Thursday, reaching $99.62. 1,103,664 shares of the stock traded hands, compared to its average volume of 1,377,208. The stock has a 50 day simple moving average of $100.65 and a two-hundred day simple moving average of $94.94. The Hartford Financial Services Group, Inc. has a 1 year low of $68.82 and a 1 year high of $105.20. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $29.46 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share 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 analysts' expectations of $6.51 billion. During the same quarter in the previous year, the business earned $1.68 EPS. The company's revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts predict that The Hartford Financial Services Group, Inc. will post 9.91 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Monday, June 3rd were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 1.89%. The Hartford Financial Services Group's payout ratio is 21.36%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HIG. Wells Fargo & Company cut their price target on The Hartford Financial Services Group from $117.00 to $111.00 and set an "overweight" rating for the company in a report on Monday, April 29th. Morgan Stanley cut their price target on The Hartford Financial Services Group from $110.00 to $109.00 and set an "equal weight" rating for the company in a report on Friday, April 26th. Citigroup lowered The Hartford Financial Services Group from a "buy" rating to a "neutral" rating and cut their price target for the stock from $116.00 to $114.00 in a report on Friday, June 28th. JPMorgan Chase & Co. raised their price target on 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. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $115.00 price target on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $106.71.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $101.47, for a total value of $414,809.36. Following the transaction, the executive vice president now owns 14,818 shares in the company, valued at $1,503,582.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $101.47, for a total value of $414,809.36. Following the transaction, the executive vice president now owns 14,818 shares in the company, valued at $1,503,582.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jonathan R. Bennett sold 18,335 shares of The Hartford Financial Services Group stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $100.78, for a total value of $1,847,801.30. Following the completion of the transaction, the executive vice president now owns 25,643 shares in the company, valued at approximately $2,584,301.54. The disclosure for this sale can be found here. Insiders have sold 94,499 shares of company stock worth $9,449,309 over the last 90 days. Corporate insiders own 1.60% 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.