Clearbridge Investments LLC Has $62.24 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Clearbridge Investments LLC trimmed its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 36.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 568,959 shares of the insurance provider's stock after selling 330,583 shares during the quarter. Clearbridge Investments LLC owned 0.20% of The Hartford Financial Services Group worth $62,244,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider's stock valued at $26,000 after buying an additional 234 shares in the last quarter. Barrett & Company Inc. raised its holdings in shares of The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after buying an additional 93 shares during the period. DT Investment Partners LLC lifted its position in shares of The Hartford Financial Services Group by 49.8% during the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock worth $36,000 after purchasing an additional 110 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new stake in The Hartford Financial Services Group during the 4th quarter valued at $36,000. Finally, Key Financial Inc increased its stake in The Hartford Financial Services Group by 526.3% during the 4th quarter. Key Financial Inc now owns 357 shares of the insurance provider's stock worth $39,000 after buying an additional 300 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the sale, the executive vice president now directly owns 31,678 shares of the company's stock, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The transaction 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 that occurred 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 completion of the transaction, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG traded down $8.96 during midday trading on Friday, reaching $114.48. 1,535,294 shares of the company traded hands, compared to its average volume of 1,578,639. The stock has a 50-day moving average price of $116.52 and a 200 day moving average price of $115.51. The company has a market cap of $32.67 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $125.08.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating analysts' consensus estimates 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%. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group's payout ratio is 20.10%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HIG shares. Wells Fargo & Company decreased their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Royal Bank of Canada restated a "sector perform" rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Raymond James lifted their target price on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday. Piper Sandler upped their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, StockNews.com downgraded shares of The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.47.

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.