Massachusetts Financial Services Co. MA Acquires 25,053 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Massachusetts Financial Services Co. MA lifted its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,448,982 shares of the insurance provider's stock after acquiring an additional 25,053 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.19% of The Hartford Financial Services Group worth $377,319,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its position in shares of The Hartford Financial Services Group by 1.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 41,624 shares of the insurance provider's stock worth $4,892,000 after purchasing an additional 580 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of The Hartford Financial Services Group by 6.4% during the 3rd quarter. Captrust Financial Advisors now owns 20,131 shares of the insurance provider's stock worth $2,368,000 after acquiring an additional 1,214 shares during the period. Edgestream Partners L.P. raised its stake in The Hartford Financial Services Group by 124.6% in the 3rd quarter. Edgestream Partners L.P. now owns 7,039 shares of the insurance provider's stock valued at $828,000 after acquiring an additional 3,905 shares during the period. Erste Asset Management GmbH acquired a new stake in The Hartford Financial Services Group during the 3rd quarter valued at $1,133,000. Finally, Centiva Capital LP boosted its position in The Hartford Financial Services Group by 4.7% during the third quarter. Centiva Capital LP now owns 8,256 shares of the insurance provider's stock worth $971,000 after purchasing an additional 374 shares during the period. Institutional investors own 93.42% of the company's stock.

Wall Street Analysts Forecast Growth

HIG has been the topic of several research analyst reports. Royal Bank of Canada reissued 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. Keefe, Bruyette & Woods lifted their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, February 5th. 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. Raymond James upped their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Finally, Piper Sandler increased 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. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.47.

The Hartford Financial Services Group Stock Down 3.3 %

HIG traded down $3.72 during mid-day trading on Monday, reaching $109.85. 789,203 shares of the stock were exchanged, compared to its average volume of 1,579,369. The company has a 50 day moving average price of $116.56 and a two-hundred day moving average price of $115.47. The stock has a market capitalization of $31.35 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $125.08.

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 (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. As a group, research analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

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 $0.52 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.89%. The Hartford Financial Services Group's payout ratio is 20.10%.

Insiders Place Their Bets

In related news, EVP Robert W. Paiano sold 13,138 shares of the business's stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Swift sold 1,144 shares of the company's stock in a transaction 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 owns 211,082 shares of the company's stock, valued at $26,385,250. This trade represents a 0.54 % 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 ninety days. 1.60% of the stock is currently owned by insiders.

About The Hartford Financial Services Group

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.