Franklin Resources Inc. Has $234.30 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Franklin Resources Inc. decreased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,141,700 shares of the insurance provider's stock after selling 42,947 shares during the quarter. Franklin Resources Inc. owned about 0.74% of The Hartford Financial Services Group worth $234,302,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Catalyst Financial Partners LLC lifted its holdings in The Hartford Financial Services Group by 3.0% in the 4th quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider's stock valued at $337,000 after acquiring an additional 90 shares during the last quarter. Barrett & Company Inc. lifted its stake in The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 93 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in The Hartford Financial Services Group by 2.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider's stock valued at $489,000 after purchasing an additional 97 shares during the last quarter. Lifestyle Asset Management Inc. boosted its holdings in The Hartford Financial Services Group by 0.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider's stock worth $1,258,000 after buying an additional 98 shares in the last quarter. Finally, Smithfield Trust Co grew its position in The Hartford Financial Services Group by 26.7% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the insurance provider's stock worth $51,000 after buying an additional 100 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

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The Hartford Financial Services Group Stock Down 8.0 %

NYSE HIG traded down $9.88 on Friday, reaching $113.56. The stock had a trading volume of 2,389,812 shares, compared to its average volume of 1,581,758. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $125.08. The business has a 50 day moving average price of $116.52 and a 200 day moving average price of $115.51. 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 company has a market capitalization of $32.41 billion, a price-to-earnings ratio of 10.97, 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 released its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. On average, analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group's payout ratio is presently 20.10%.

Insiders Place Their Bets

In other news, 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 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 approximately $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher Swift sold 1,144 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was 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 of the company's stock, valued at approximately $26,385,250. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 112,343 shares of company stock valued at $13,488,337 over the last three months. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HIG shares. Keefe, Bruyette & Woods increased 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 report on Wednesday, February 5th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Raymond James boosted their price objective on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday. Wells Fargo & Company decreased their target price 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. Finally, Piper Sandler boosted their price target on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $123.47.

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.