Hsbc Holdings PLC cut its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,047,708 shares of the insurance provider's stock after selling 29,850 shares during the quarter. Hsbc Holdings PLC owned approximately 0.36% of The Hartford Financial Services Group worth $114,577,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of HIG. Norges Bank bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter valued at about $416,340,000. AustralianSuper Pty Ltd lifted its holdings in The Hartford Financial Services Group by 265.5% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider's stock worth $132,710,000 after buying an additional 881,224 shares during the period. Assenagon Asset Management S.A. boosted its position in The Hartford Financial Services Group by 437.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock valued at $95,322,000 after acquiring an additional 709,324 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of The Hartford Financial Services Group by 11,904.7% in the 4th quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider's stock valued at $632,000 after acquiring an additional 626,304 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of The Hartford Financial Services Group in the 4th quarter worth $65,256,000. Hedge funds and other institutional investors own 93.42% of the company's stock.
Insider Activity at The Hartford Financial Services Group
In other news, CEO Christopher Swift sold 1,144 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 211,082 shares of the company's stock, valued at $26,385,250. This represents a 0.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group 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 completion of the sale, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,343 shares of company stock worth $13,488,337 in the last three months. Company insiders own 1.60% of the company's stock.
Analyst Ratings Changes
Several research firms have issued reports on HIG. Barclays lifted their target price on The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday. Piper Sandler boosted their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods lowered their target price on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised their price objective on The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Eight 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 stock. According to MarketBeat.com, The Hartford Financial Services Group has an average rating of "Moderate Buy" and an average price target of $124.44.
View Our Latest Stock Analysis on The Hartford Financial Services Group
The Hartford Financial Services Group Stock Performance
NYSE:HIG traded down $0.45 during mid-day trading on Friday, hitting $118.79. The company's stock had a trading volume of 1,813,977 shares, compared to its average volume of 1,569,718. The business's fifty day moving average is $117.66 and its two-hundred day moving average is $115.40. The stock has a market cap of $34.21 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group, Inc. has a 1 year low of $95.00 and a 1 year high of $125.08. 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 (NYSE:HIG - Get Free Report) last posted its earnings results on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period last year, the company earned $2.34 earnings per share. Analysts anticipate 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 company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group's dividend payout ratio (DPR) is 20.10%.
The Hartford Financial Services Group Company Profile
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Free Report)
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.
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