Brandywine Global Investment Management LLC Sells 80,536 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Brandywine Global Investment Management LLC lessened its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 31.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 173,673 shares of the insurance provider's stock after selling 80,536 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.06% of The Hartford Financial Services Group worth $19,000,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. RWA Wealth Partners LLC purchased a new stake in The Hartford Financial Services Group during the fourth quarter valued at $202,000. Schroder Investment Management Group increased its position in shares of The Hartford Financial Services Group by 45.4% during the 4th quarter. Schroder Investment Management Group now owns 888,632 shares of the insurance provider's stock valued at $97,101,000 after purchasing an additional 277,379 shares during the last quarter. Intrust Bank NA increased its position in shares of The Hartford Financial Services Group by 2.9% during the 4th quarter. Intrust Bank NA now owns 21,518 shares of the insurance provider's stock valued at $2,354,000 after purchasing an additional 604 shares during the last quarter. Allstate Corp bought a new position in shares of The Hartford Financial Services Group in the 4th quarter worth approximately $952,000. Finally, RiverFront Investment Group LLC boosted its holdings in shares of The Hartford Financial Services Group by 5.9% in the fourth quarter. RiverFront Investment Group LLC now owns 243,796 shares of the insurance provider's stock worth $26,671,000 after buying an additional 13,553 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

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The Hartford Financial Services Group Price Performance

NYSE:HIG traded down $7.57 during trading hours on Friday, reaching $115.87. The stock had a trading volume of 604,600 shares, compared to its average volume of 1,575,025. The stock has a market capitalization of $33.07 billion, a PE ratio of 11.19, a PEG ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $125.08. The company has a 50 day moving average price of $116.52 and a two-hundred day moving average price of $115.51. 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 (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. As a group, sell-side 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group's payout ratio is 20.10%.

Insider Buying and Selling

In related news, EVP Robert W. Paiano sold 13,138 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the sale, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the transaction, the chief executive officer now directly owns 211,082 shares of the company's stock, valued at $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on HIG shares. Barclays upgraded shares of The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Raymond James raised their target price on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday. Piper Sandler boosted their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods boosted their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $123.47.

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.