Redhawk Wealth Advisors Inc. Sells 727 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Redhawk Wealth Advisors Inc. cut its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,219 shares of the insurance provider’s stock after selling 727 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in The Hartford Financial Services Group were worth $1,017,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in HIG. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at about $33,000. Itau Unibanco Holding S.A. purchased a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at about $35,000. DT Investment Partners LLC increased its position in shares of The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 110 shares during the period. Flagship Wealth Advisors LLC purchased a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at about $36,000. Finally, Key Financial Inc increased its position in shares of The Hartford Financial Services Group by 526.3% in the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 300 shares during the period. 93.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HIG has been the topic of a number of analyst reports. UBS Group boosted their price objective on shares of The Hartford Financial Services Group from $139.00 to $142.00 and gave the company a “buy” rating in a research report on Monday, April 28th. Barclays boosted their price target on shares of The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Wall Street Zen upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods reduced their price target on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, Morgan Stanley boosted their price target on shares of The Hartford Financial Services Group from $115.00 to $130.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $129.71.

Insider Transactions at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 1,144 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total transaction of $143,000.00. Following the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $26,385,250. This trade represents a 0.54% decrease in their position. The sale was disclosed in a document filed 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 transaction of $129,690.12. Following the sale, the senior vice president now owns 622 shares in the company, valued at $74,279.24. The trade was a 63.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,291 shares of company stock worth $12,078,254. Corporate insiders own 1.50% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $124.30 on Thursday. The stock has a market cap of $35.32 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.12 and a beta of 0.71. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a fifty-two week low of $98.16 and a fifty-two week high of $132.09. The firm’s 50-day simple moving average is $123.68 and its two-hundred day simple moving average is $117.87.

The Hartford Financial Services Group (NYSE:HIG) last issued 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 firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.97 billion. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.34 earnings per share. Analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be paid a $0.52 dividend. The ex-dividend date of this dividend 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 presently 20.74%.

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.