Grove Bank & Trust Has $44,000 Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Grove Bank & Trust lessened its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 20.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 548 shares of the insurance provider’s stock after selling 140 shares during the quarter. Grove Bank & Trust’s holdings in The Hartford Financial Services Group were worth $44,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in The Hartford Financial Services Group by 7.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,704 shares of the insurance provider’s stock worth $1,271,000 after buying an additional 1,185 shares during the period. D.A. Davidson & CO. raised its stake in shares of The Hartford Financial Services Group by 9.1% in the first quarter. D.A. Davidson & CO. now owns 3,952 shares of the insurance provider’s stock worth $284,000 after purchasing an additional 330 shares during the last quarter. Prudential PLC bought a new position in shares of The Hartford Financial Services Group in the first quarter valued at approximately $674,000. Cetera Investment Advisers grew its holdings in shares of The Hartford Financial Services Group by 88.6% in the first quarter. Cetera Investment Advisers now owns 11,238 shares of the insurance provider’s stock valued at $807,000 after acquiring an additional 5,278 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its holdings in The Hartford Financial Services Group by 235.4% during the first quarter. Zions Bancorporation N.A. now owns 1,070 shares of the insurance provider’s stock valued at $77,000 after purchasing an additional 751 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HIG. Roth Mkm increased their target price on The Hartford Financial Services Group from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Wells Fargo & Company raised their price target on The Hartford Financial Services Group from $106.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Evercore ISI raised their price target on The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. TD Cowen raised their price target on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Raymond James reaffirmed an “outperform” rating and set a $120.00 price objective (up from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.82.

Insider Activity

In other news, CEO Christopher Swift sold 956 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $86.00, for a total transaction of $82,216.00. Following the completion of the sale, the chief executive officer now owns 170,180 shares of the company’s stock, valued at approximately $14,635,480. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Robert W. Paiano sold 14,528 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total value of $1,365,196.16. Following the completion of the transaction, the executive vice president now owns 46,792 shares of the company’s stock, valued at approximately $4,397,044.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher Swift sold 956 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $86.00, for a total transaction of $82,216.00. Following the completion of the transaction, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at approximately $14,635,480. The disclosure for this sale can be found here. Insiders sold a total of 253,715 shares of company stock valued at $22,789,138 in the last 90 days. Company insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $97.31 on Tuesday. The Hartford Financial Services Group, Inc. has a twelve month low of $67.05 and a twelve month high of $103.64. The firm has a market cap of $28.93 billion, a P/E ratio of 12.18, a PEG ratio of 1.38 and a beta of 0.89. The company has a 50 day moving average of $97.21 and a 200 day moving average of $84.71. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Friday, February 2nd. The insurance provider reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.62. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The business had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. As a group, research analysts expect that The Hartford Financial Services Group, Inc. will post 10.12 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 23.53%.

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.