Price T Rowe Associates Inc. MD Sells 775,321 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Price T Rowe Associates Inc. MD lowered its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,626,907 shares of the insurance provider's stock after selling 775,321 shares during the quarter. Price T Rowe Associates Inc. MD owned about 4.36% of The Hartford Financial Services Group worth $1,381,384,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of HIG. Thurston Springer Miller Herd & Titak Inc. boosted its stake 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 worth $26,000 after acquiring an additional 234 shares in the last quarter. Barrett & Company Inc. boosted its position in shares of 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 worth $32,000 after purchasing an additional 93 shares in the last quarter. DT Investment Partners LLC grew 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 bought a new position in The Hartford Financial Services Group during the 4th quarter valued at approximately $36,000. Finally, Key Financial Inc raised its stake in The Hartford Financial Services Group by 526.3% during the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider's stock valued at $39,000 after buying an additional 300 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

The Hartford Financial Services Group Stock Performance

Shares of HIG traded down $0.45 on Friday, reaching $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 Hartford Financial Services Group, Inc. has a 12-month low of $95.00 and a 12-month high of $125.08. The stock has a market capitalization of $34.21 billion, a P/E ratio of 11.48, a PEG ratio of 1.12 and a beta of 0.68. 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 stock's 50 day simple moving average is $117.66 and its two-hundred day simple moving average is $115.40.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.97 billion. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. During the same period in the prior year, the business posted $2.34 EPS. Research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were given a dividend of $0.52 per share. 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 payout ratio is currently 20.10%.

Insider Activity at The Hartford Financial Services Group

In related news, 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 transaction, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the chief executive officer now owns 211,082 shares of the company's stock, valued at $25,412,161.98. The trade was a 31.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,343 shares of company stock worth $13,488,337. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HIG. Piper Sandler raised their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Raymond James raised their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. StockNews.com raised shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company lowered their price objective on The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Seven 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $126.40.

The Hartford Financial Services Group Company Profile

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.