JPMorgan Chase & Co. lowered its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 31.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,227,089 shares of the insurance provider's stock after selling 2,394,023 shares during the period. JPMorgan Chase & Co. owned approximately 1.80% of The Hartford Financial Services Group worth $571,844,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds 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 purchasing an additional 234 shares during the period. Barrett & Company Inc. lifted 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 boosted its stake in shares of The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock worth $36,000 after buying an additional 110 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group during the 4th quarter valued at about $36,000. Finally, Key Financial Inc lifted its stake in shares of The Hartford Financial Services Group by 526.3% in the 4th quarter. Key Financial Inc now owns 357 shares of the insurance provider's stock worth $39,000 after purchasing an additional 300 shares during the period. Institutional investors own 93.42% of the company's stock.
The Hartford Financial Services Group Price Performance
The Hartford Financial Services Group stock traded up $1.51 during midday trading on Monday, reaching $123.73. 2,137,172 shares of the stock traded hands, compared to its average volume of 1,578,410. The stock's fifty day moving average is $115.75 and its 200-day moving average is $115.33. The Hartford Financial Services Group, Inc. has a 12 month low of $94.47 and a 12 month high of $124.90. The stock has a market cap of $35.31 billion, a P/E ratio of 11.95, a PEG ratio of 1.12 and a beta of 0.91. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its 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, equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.
The Hartford Financial Services Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be given a $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.68%. The Hartford Financial Services Group's dividend payout ratio is presently 20.10%.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Wells Fargo & Company cut 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 research report on Monday, February 3rd. StockNews.com lowered The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Barclays upgraded The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $130.00 to $135.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods raised their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 5th. Finally, Piper Sandler lifted their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Ten equities research 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 company's stock. According to MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of "Moderate Buy" and an average target price of $123.78.
Check Out Our Latest Research Report on The Hartford Financial Services Group
Insider Activity
In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction on Monday, March 17th. The shares were 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 of the company's stock, valued at approximately $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction dated Tuesday, March 11th. The stock was 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. The trade was a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.
About The Hartford Financial Services Group
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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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