Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $6.74 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,640 shares of the insurance provider's stock after selling 2,146 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in The Hartford Financial Services Group were worth $6,743,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HIG. AustralianSuper Pty Ltd raised its holdings in shares of The Hartford Financial Services Group by 265.5% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider's stock worth $132,710,000 after acquiring an additional 881,224 shares during the period. Assenagon Asset Management S.A. raised its stake in The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock worth $95,322,000 after purchasing an additional 709,324 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of The Hartford Financial Services Group by 11,904.7% during the 4th quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider's stock worth $632,000 after buying an additional 626,304 shares during the last quarter. Raymond James Financial Inc. acquired a new position in The Hartford Financial Services Group in the fourth quarter valued at approximately $65,256,000. Finally, Nordea Investment Management AB lifted its stake in shares of The Hartford Financial Services Group by 17.3% in the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider's stock valued at $430,272,000 after purchasing an additional 581,103 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

Remove Ads

The Hartford Financial Services Group Stock Performance

HIG traded up $0.45 on Thursday, hitting $123.11. 1,640,118 shares of the company's stock were exchanged, compared to its average volume of 1,465,914. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average of $115.10 and a two-hundred day moving average of $115.18. The Hartford Financial Services Group, Inc. has a twelve month low of $94.47 and a twelve month high of $124.90. The firm has a market cap of $35.13 billion, a PE ratio of 11.89, a P/E/G ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted its earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS 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%. On average, research 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group's dividend payout ratio (DPR) is presently 20.10%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays upgraded shares of The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $130.00 to $135.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, February 5th. Wells Fargo & Company decreased their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. BMO Capital Markets lifted their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a "market perform" rating in a research note on Wednesday, November 27th. Finally, Piper Sandler increased their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $122.94.

Insiders Place Their Bets

In related news, CEO Christopher Swift sold 98,061 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the transaction, the chief executive officer now owns 211,082 shares in the company, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of the business's stock in a transaction on 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 sale, the executive vice president now directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

About The Hartford Financial Services Group

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.