Legal & General Group Plc reduced its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 16.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,427,412 shares of the insurance provider's stock after selling 480,569 shares during the quarter. Legal & General Group Plc owned about 0.84% of The Hartford Financial Services Group worth $265,559,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Catalyst Financial Partners LLC boosted its stake in shares of The Hartford Financial Services Group by 3.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider's stock worth $337,000 after purchasing an additional 90 shares during the last quarter. Barrett & Company Inc. raised its holdings in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after acquiring an additional 93 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of The Hartford Financial Services Group by 2.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider's stock worth $489,000 after purchasing an additional 97 shares during the period. Lifestyle Asset Management Inc. grew its position in shares of The Hartford Financial Services Group by 0.9% in the fourth quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider's stock valued at $1,258,000 after purchasing an additional 98 shares during the period. Finally, Smithfield Trust Co increased its stake 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 valued at $51,000 after purchasing an additional 100 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at The Hartford Financial Services Group
In related news, CEO Christopher Swift sold 1,144 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total transaction of $143,000.00. Following the sale, the chief executive officer now owns 211,082 shares in the company, valued at $26,385,250. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 transaction, the executive vice president now owns 31,678 shares of the company's stock, 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. In the last ninety days, insiders have sold 112,343 shares of company stock valued at $13,488,337. Corporate insiders own 1.60% of the company's stock.
Analysts Set New Price Targets
Several analysts have commented on the company. Royal Bank of Canada restated a "sector perform" rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Jefferies Financial Group dropped their price target on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a "hold" rating for the company in a research report on Friday. StockNews.com lowered shares of The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Piper Sandler upped their price objective on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Finally, Wells Fargo & Company decreased their target price on The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating for the company in a report on Thursday. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.13.
Read Our Latest Stock Report on The Hartford Financial Services Group
The Hartford Financial Services Group Stock Up 2.1 %
NYSE HIG traded up $2.47 during trading hours on Monday, reaching $118.52. 166,808 shares of the company traded hands, compared to its average volume of 1,582,252. The stock has a market capitalization of $33.82 billion, a PE ratio of 11.45, a PEG ratio of 1.12 and a beta of 0.68. 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 Hartford Financial Services Group, Inc. has a 12 month low of $94.47 and a 12 month high of $125.08. The company has a 50 day moving average of $116.60 and a two-hundred day moving average of $115.32.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly 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%. As a group, equities analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.
The Hartford Financial Services Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.75%. The Hartford Financial Services Group's dividend payout ratio (DPR) is 20.10%.
The Hartford Financial Services Group 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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