The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lowered its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,536 shares of the insurance provider's stock after selling 4,703 shares during the period. State of Tennessee Department of Treasury's holdings in The Hartford Financial Services Group were worth $11,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at $416,340,000. AustralianSuper Pty Ltd grew its stake in shares of The Hartford Financial Services Group by 265.5% in the 4th 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 in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock worth $95,322,000 after buying an additional 709,324 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of The Hartford Financial Services Group by 11,904.7% during the 4th quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider's stock valued at $632,000 after buying an additional 626,304 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in The Hartford Financial Services Group during the fourth quarter worth approximately $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 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 transaction, 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 SEC, 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 stock was 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 owns 31,678 shares of the company's stock, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,343 shares of company stock valued at $13,488,337 over the last 90 days. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler boosted their target price on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. JPMorgan Chase & Co. increased their target price on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Wells Fargo & Company cut their price target on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group decreased their price objective 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 note on Friday, April 11th. Finally, Barclays upped 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. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $124.44.

The Hartford Financial Services Group Stock Down 0.4 %

HIG stock traded down $0.45 during trading on Friday, hitting $118.79. 1,813,977 shares of the company's stock traded hands, compared to its average volume of 1,569,718. The business has a fifty day simple moving average of $117.66 and a two-hundred day simple moving average of $115.40. 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 firm 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 Hartford Financial Services Group, Inc. has a 1 year low of $95.00 and a 1 year high of $125.08.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $6.97 billion. During the same period in the prior year, the business posted $2.34 EPS. Sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.75%. The Hartford Financial Services Group's dividend payout ratio (DPR) is presently 20.10%.

The Hartford Financial Services Group 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.