MV Capital Management Inc. Grows Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

MV Capital Management Inc. grew its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 43.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,036 shares of the insurance provider’s stock after purchasing an additional 620 shares during the quarter. MV Capital Management Inc.’s holdings in The Hartford Financial Services Group were worth $210,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. GoalVest Advisory LLC grew its stake in shares of The Hartford Financial Services Group by 464.8% during the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 251 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at approximately $26,000. CVA Family Office LLC bought a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $27,000. Chilton Capital Management LLC bought a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $28,000. Finally, Cape Investment Advisory Inc. boosted its stake in The Hartford Financial Services Group by 189.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 245 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total value of $7,186,697.96. Following the completion of the sale, the chief financial officer now directly owns 69,169 shares in the company, valued at approximately $6,896,840.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Michael R. Fisher sold 4,088 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction of $414,809.36. Following the completion of the sale, the executive vice president now directly owns 14,818 shares in the company, valued at approximately $1,503,582.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Beth Ann Costello sold 72,076 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total value of $7,186,697.96. Following the sale, the chief financial officer now owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,499 shares of company stock worth $9,449,309. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their price target on The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Argus upped their price target on The Hartford Financial Services Group from $104.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Morgan Stanley dropped 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 research note on Friday, April 26th. Raymond James reiterated an “outperform” rating and set a $120.00 target price (up from $100.00) on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Finally, JPMorgan Chase & Co. increased their target price on The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Eight investment 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.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.71.

The Hartford Financial Services Group Stock Up 0.1 %

Shares of HIG stock traded up $0.14 during mid-day trading on Tuesday, hitting $100.03. The stock had a trading volume of 1,680,002 shares, compared to its average volume of 1,701,173. The Hartford Financial Services Group, Inc. has a 12-month low of $68.82 and a 12-month high of $105.20. The firm has a market capitalization of $29.58 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93. The firm’s 50-day moving average is $100.65 and its two-hundred day moving average is $94.77. 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 Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. The Hartford Financial Services Group’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts predict that The Hartford Financial Services Group, Inc. will post 9.91 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 3rd will be issued 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 dividend payout ratio is 21.36%.

The Hartford Financial Services Group Company 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.